NEW YORK (AP) — Verizon has agreed to buy online portal Yahoo Inc. for roughly $5 billion, according to multiple media reports, each citing a single unnamed source.
Yahoo is expected to sell its email service and news, finance and sports websites in addition to its advertising tools under pressure from shareholders fed up with a downturn in the company's revenue during the past eight years.
Yahoo has been in a long, deep slump even as advertisers have been pouring more money into what is now a $160 billion market for digital advertising, according to research firm eMarketer.
