Culture

Yahoo to buy Right Media

Yahoo buys online ad auction network firm in response to Google buying DoubleClick.

Yahoo said on Monday that it is buying Right Media, which operates a real-time online ad auction network. The deal is worth about $680 million, in equal parts cash and Yahoo stock, for the 80 percent of Right Media that Yahoo does not already own.

In October, Yahoo led a $45 million Series B financing round in Right Media, which gave Yahoo a 20 percent stake in the company. The move comes about two weeks after Google said it was buying online ad company DoubleClick for $3.1 billion.