Verizon is acquiring Yahoo for $5 billion

One internet giant is set to acquire a former internet giant. According to numerous reports, Verizon has acquired Yahoo for around $5 billion. The deal has not been officially announced, but it has been finalized according to reports. Big Red is the owner of Big Purple.

Yahoo has made many purchases for itself in the last several years. Verizon will now own all of those services as well. Some of the more notable include Flickr, Tumblr, and Rivals.com. Marissa Mayer will be replaced by the CEO of AOL (yes they still exist). Now, Verizon owns a couple of companies that used to dominate the internet: AOL and Yahoo. What will they do with them?

[via GSM Arena]