Verizon to announce $5 billion deal to buy Yahoo on Monday - source. At first blush, the acquisition of Yahoo by Verizon looks like a marriage of opposites. However, Verizon is clearly interested in acquiring infrastructure, users and content to amplify its Internet footprint; and, Yahoo still has millions of users who are prime targets for a mobile carrier. Big Red is no longer just a phone company. It is a media empire, and will bring its considerable user base to an Internet advertising powerhouse.