Verizon has announced that it will sell off its media group of companies, which includes some very big Web 1.0 brands. Private equity firm Apollo Global Management is investing US$5 billion to acquire Verizon s discarded media businesses which include the former internet empires of AOL and Yahoo. The new entity will be rebranded as just Yahoo, and Verizon will retain a 10 per cent stake in this business.
Some well known internet news sites are part of the bundle of businesses sold. TechCrunch, Yahoo Finance, and Engadget will now be Apollo properties. Unfortunately for HuffPost staff, Verizon sold this news site separately to BuzzFeed last year, which has since closed it down. Verizon previously sold or closed properties such as Tumblr and Yahoo Answers.
Yahoo! está a la venta: no puede con Google
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Private equity firm Apollo to buy Verizon Media assets for $5B, will rename business Yahoo
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