Verizon is reportedly entering an exclusive $5 billion deal with Yahoo.
Yahoo is on the auction block and according to a new report, the winning bidder is Verzion. Recode reports that Yahoo has told other bidders that Verizon is the winner in a $5 billion deal.
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Other interested parties that have been engaged in the four months long negotiations have been private equity firm TPG and a group led by Quicken Loans’ Dan Gilbert.
The timing of the deal announcement is likely Monday or latest on Tuesday, when Verizon is announcing its quarterly earnings. Verizon is already big in the content game with the aquisition of AOL for $4.4 billion. Somehow the $5 billion for Yahoo do not sound that high.
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There are no details yet about the details of the Yahoo Verizon deal.