This comes as no surprise, as you know, Yahoo was looking to sell and over the weekend, we heard it would be Verizon who would buy it and just moments ago both Verizon and Yahoo announced the deal has been agreed to by the boards of the two companies.

Yahoo agreed to be acquired by Verizon for $4.83 billion in cash. Of course, this needs to be approved by the regulatory committees, but it should be approved.

Marissa Mayer, the CEO of Yahoo and former Googler, published the letter she wrote to the company:

Now Verizon owns both AOL and Yahoo, two of the founding companies of the commercial Internet. Crazy, just crazy.

Lowell McAdam, Verizon Chairman and CEO, said:

Marissa Mayer, CEO of Yahoo, said:

Tim Armstrong, CEO of AOL, said:

Yahoo will be integrated with AOL under Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.

This is the end of an era.

Forum discussion at Twitter and WebmasterWorld.