Apparently, $1B is not a lot of money. Three deals today - all at $1B.
Facebook bought Instagram, a photo-sharing app, for $1B.
Microsoft paid $1B for 800 AOL patents. Who knew AOL even had 800 patents? Now they can fund Patch some more.
AT&T sold a majority stake in its Yellow Pages unit for $950 Million. "Private equity firm Cerberus Capital Management has agreed to acquire a majority stake of AT&T's Yellow Pages business unit, which will be rebranded under the name YP Holdings LLC. AT&T will still maintain a 47 percent equity interest in the new entity but will hand over the controlling stake in the unit to Cerberus for $750 million in cash and the assumption of $200 million in debt." It must be short term gains that Cerberus is after, because with search going to Google and Facebook, how does YP.com monetize?