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Verizon is selling its Media business, including Yahoo and AOLApollo Global to acquire majority stake for $5 billionVerizon is retaining a 10% stakeClaims the …
Verizon sells media group for $5 billion, AOL and Yahoo sold at a loss
A report from
The Verge confirms speculation that Verizon was in talks to sell its media group. This group includes both AOL and Yahoo!, websites that were once popular in the years that preceded the birth of the modern smartphone.
The following list includes all the brands part of the Verizon Media group:
Yahoo!
In the Know
Verizon sold off its Verizon Media group properties to Apollo Global Management, parent company of the Venetian Resort and Casino in Las Vegas. The transaction was reportedly worth $5 billion, a stark contrast to the combined near-$9 billion that Verizon spent to acquire AOL in 2015 ($4.4 billion) and then Yahoo in 2017 ($4.5 billion). Following the deal of AOL and Yahoo’s sale, Verizon remains with 10% stake in the media group.
Verizon sells Yahoo and AOL to Apollo for $5bn
NEW YORK, 4 hours, 34 minutes ago Verizon, a global telecom conglomerate, has entered into an agreement with Apollo Global Management for the latter to acquire Verizon Media comprised of iconic brands such as Yahoo and AOL for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by CEO Guru Gowrappan. The corporate carveout will allow Verizon Media, which also comprises leading ad tech and media platform businesses to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners and nearly 900 million monthly active users worldwide.
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Verizon Media to be Acquired by Apollo Funds for $5B
May 04, 2021, 08:10 AM
Verizon and Apollo Global Management announced that funds managed by affiliates of Apollo entered into an agreement to acquire Verizon Media for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by CEO Guru Gowrappan.
One of the worldâs premier global technology and media companies, Verizon Media is comprised of iconic brands such as Yahoo and AOL, as well as leading ad tech and media platform businesses. The corporate carveout will allow Verizon Media to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners and nearly 900 million monthly active users worldwide.