There has been rumors that Yahoo was looking to sell off their core business, but it was unclear as to who would buy them. Many thought that Microsoft would be the logical choice - or even Google may be a decent idea as they could integrate some search, patents and more. Out of left field comes Verizon however. They swooped in and snagged the ailing company for under $5 Billion, but the downside here is that this is only Yahoo's core business and the stuff that has been actually making the company money is not included. I hope Verizon has deep pockets.
In the end, the company was done in by Google and Facebook, two younger behemoths that figured out that survival required a continuous process of reinvention and staying ahead of the next big thing. Yahoo, which flirted with buying both companies in their infancies, watched its fortunes sink as users moved on to apps and social networks.