Yahoo has agreed to sell its core internet operations and land holdings to Verizon Communications for $4.8 billion, reports the Wall Street Journal. Post the sale, the company will retain its investments in Alibaba as well as Yahoo Japan and a small portfolio of patents. Yahoo will also separately auction around 3000 patents which it expects will fetch more than $1 billion. Note that at its peak in 2000, Yahoo was valued at over $125 billion. As of now, the company is overall valued at around $36 billion, including holdings in Alibaba and Yahoo Japan. Current CEO of Yahoo Marissa Mayer is not expected to join Verizon. Sale of Alibaba assets: In April this year, Yahoo said it might sell its core business and spin off the Alibaba investment. Yahoo had also added that it was in the process of…
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