With Yahoo Bid, Verizon Gobbles Up the Past To Avoid an Obsolete Future

To overcome its fear of the future as a big dumb pipe, Verizon continues to look to the past. Last year, it spent $4.4 billion for AOL and its surprisingly advanced ad tech. Today, it’s spending another $4.8 billion on Yahoo, a surprisingly popular content company. That’s a lot of money for companies that have devolved into punchlines over the last several years. But it’s also Verizon’s best shot at staying relevant.