Telecom giant Verizon will acquire Yahoo and its web properties, including Flickr and photo blogging site Tumblr, for $4.83 billion. It seemed possible that Yahoo might sell its photo-sharing sites separately, as the company announced in March that it was accepting bids for its web properties. Today's announcement confirms that both Flickr and Tumblr will remain a part of Yahoo as it changes hands to Verizon.

Verizon owns AOL and Huffington Post, a point that Yahoo CEO Marissa Mayer spins as a positive for her company's outlook. In a statement published on Yahoo today, Mayer emphasized that joining forces with AOL could help strengthen Yahoo's mobile offerings.

Regulators must approve the sale before it can be finalized, which is expected to be early next year.