Yahoo sells web business to Verizon Communications

Yahoo sells web business to Verizon Communications
Chief executive Melissa Mayer at a Yahoo conference Pic: Getty

One-time internet leader had fallen behind rivals Google and Facebook

Yahoo has agreed to sell its main web businesses to Verizon Communications for $4.8 billion, ending a two-decade run as an independent company that took it from Stanford University start-up at the dawn of the internet age to also-ran behind nimbler online rivals such as Google and Facebook.

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