Verizon is Set to Announce it will be Buying Yahoo for $5 billion.

According to Recode, terms have not been finalized, but Yahoo’s board has settled on Verizon as its new owner.

Yahoo is another odd purchase, but low-hanging fruit nonetheless. Services like Yahoo Sports and News are still well liked. Other Yahoo properties will likely be jettisoned once the new parent company takes over.

It’s also not a huge dollar amount, all things considered. Social services like WhatsApp and LinkedIn have recently sold for four to five times as much as Verizon is reportedly paying for Yahoo.

And there’s Tumblr and Flickr to consider as well. It’s not clear what Verizon’s plans are for Yahoo yet — it could operate it as a subsidiary, or wrap it all under the Verizon cloak — so there’s reason to be concerned your favorite service may vanish or change drastically.

And perhaps because of this, Verizon is reportedly not interested in keeping Mayer (Yahoo Boss) around. AOL boss Tim Armstrong is expected to take over leadership of Yahoo once Verizon acquires it, as he once proposed an AOL-Yahoo merger to Mayer, who turned him down.
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