Verizon and Yahoo are set to announce that they are striking an acquisition deal, according to sources close to the situation.
The news is expected by Monday, although it could come earlier or later.
Yahoo told other bidders this afternoon that the Verizon Communications was the winner of the four-month process, said sources.
The transaction of about $5 billion still has to pass regulatory muster and also faces difficult integration issues.
The reception of the deal from Verizon shareholders will also be an issue.
There is always a chance it will not work out and one of the other bidders might throw in another offer once the terms are revealed, according to Re-Code.
Those terms are still unclear, including whether Verizon’s deal includes some or all of Yahoo’s patent and real-estate assets, which have some (though diminishing) value.
Verizon is set to report its quarterly results on Tuesday and sources said the pair hope to be able to announce details of the deal before then, if possible.
Verizon will also be getting a mass of media assets, some of which are still powerful, such as Yahoo Finance and Yahoo Sports, and others not so much.
Under current CEO Marissa Mayer, Yahoo spent large sums on content purchasing—such as its $1 billion acquisition of Tumblr and a deal to bring TV news star Katie Couric to the network.
