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Verizon Finalizes $4.8 Billion Yahoo Deal

The price tag, which includes Yahoo’s core internet business and some real estate, is a remarkable fall for the Silicon Valley web pioneer that once had a market capitalization of more than $125 billion at the height of the dot-com boom.

For New York-based Verizon, the deal simply adds another piece to the digital media and advertising business it is trying to build.

The deal is expected to be announced early Monday. The price was earlier reported by Bloomberg News.

Verizon plans to keep the Yahoo brand, according to a person familiar with its plans.

When the bidding began in April, Verizon was the immediate front-runner with a market capitalization of roughly $228 billion and a plan for how to plug Yahoo into its upstart digital media business, which includes AOL properties it acquired last year for $4.4 billion.

Verizon’s competition came primarily from private-equity firms such as Bain Capital, Vista Equity Partners, TPG and Advent International Inc., as well as a group led by Quicken Loans founder Dan Gilbert. AT&T Inc. T 1.39 % joined the bidding process later, but it wasn’t seen as a serious contender, people familiar with the matter said.

Verizon in June submitted a bid of $3 billion, but that didn’t include Yahoo’s real estate and came before last week’s final round of...