The two companies are in one-on-one discussions, one of the people said. (AP Photo/Marcio Jose Sanchez)
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Verizon Communications Inc. is nearing a deal to buy Yahoo! Inc., beating out rival bidders for the iconic web pioneer, people familiar with the matter said.Verizon is discussing a price close to $5 billion for Yahoo's core internet business, one of the people said and the deal doesn't include the company's patents at this stage. With the wireless industry maturing, Verizon has been buying up internet and advertising technology companies, including AOL, and presenting itself as the best bet to take on Google and Facebook Inc. in mobile advertising.Together with AOL, the new Yahoo under Verizon may have a better chance of competing in a digital ad market dominated by two big players.
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