It’s official—Verizon has officially acquired Yahoo for $4.8 billion in cash. The digital player’s core business—namely its advertising business and content—will be integrated into Verizon-owned AOL as the telecom looks to compete with established digital players Google and Facebook.
After acquiring AOL for $4.4 billion last year, the deal is part of Verizon’s goal to have a global audience of two billion users and $20 billion in revenue by 2020. But grabbing traffic and ad dollars from established competitors like Facebook and Google will be tough, said Craig Key, svp of media at Space150.
