Deal to be announced by today.
UPDATE: Reports confirm that Verizon has agreed to purchase Yahoo for $4..8 billion.
There are talks that Verizon is acquiring Yahoo for a report $4.8 billion that could change the course of the company’s future, following various attempts to save the company’s struggling business.
Verizon, a US-based telecommunications company, is said to be interested in Yahoo as a way to strengthen its current online content offerings. Various negotiations are taking place, including bids from different companies, some of which include AT&T.
It isn’t clear though if current Yahoo CEO will remain in case the acquisition becomes official. Even if she does exit the company, she will be bringing with her $55 million as part of her severance package from Yahoo.
READ MORE: Things aren’t looking good for Yahoo
Yahoo has been struggling the years and recent layoffs and other ways to downsize its business doesn’t seem to be helping the company.
As VentureBeat also pointed out, Verizon’s purchase of Yahoo would mean that they only own the core business – and that anyone who is left in charge will still take care of Yahoo Japan’s 35.5 percent stake plus Alibaba’s 15 percent holding.