SAN FRANCISCO — Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the Internet.

It is the second time in as many years that Verizon has snapped up the remnants of a fallen Internet star as it broadens its digital reach. The nation’s largest wireless carrier paid $4.4 billion for AOL last year.

Yahoo will be rolled into Verizon’s AOL operations and CEO Marissa Mayer could be working again with AOL CEO Tim Armstrong, who worked with Mayer at Google for years and tried unsuccessfully to convince her to combine the two companies when they both remained independent.

Though many expected the sale of Yahoo to spell the end of Mayer’s reign, a Tumblr post from Mayer moments after the deal was announced read, “For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.

Yahoo Inc., Sunnyvale, Calif., is parting with its e-mail service and still-popular websites devoted to news, finance and sports, in addition to its advertising tools under pressure from shareholders fed up with a steep downturn in the company’s revenue during the past eight years.

The sale potentially could result in thousands of layoffs. Mayer has already jettisoned 1,900 Yahoo workers since last September.

The deal is expected to close in 2017’s first quarter. It still needs approval from Yahoo shareholders.

Yahoo’s stock rose slightly in premarket trading, while shares of Verizon dipped slightly.