TALLAHASSEE Fla.-- Verizon Wireless has agreed to pay 4.83 billion dollars to purchase Yahoo. Both companies made the announcement before markets opened on Monday.
The sale puts an end to Yahoo's 21-year history as an independent company.
The Verizon deal must be approved by regulators and is expected to be finalized early next year.
Verizon and Yahoo did not immediately comment on who will lead Yahoo once the deal is complete.
It's unclear what Yahoo's CEO, Marissa Mayer, will do after the deal closes.
