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Private equity firm Apollo to buy Verizon Media assets for $5B, will rename business Yahoo – TechCrunch

Private equity firm Apollo to buy Verizon Media assets for $5B, will rename business ‘Yahoo’ Following several days of negotiation and rumors, Verizon today announced that it has entered an agreement to sell its media assets to private equity firm Apollo Global Management for $5 billion. Apollo will be paying Verizon $4.25 billion in cash, along with preferred interests of $750 million, and Verizon will keep 10% of the company. The new company, when the deal is complete, will be known simply as Yahoo, and it will continue to be led by current CEO Guru Gowrappan and from what we understand the plan involves pursuing opportunities across content, commerce and betting. The division’s existing footprint spreads across a variety of internet brands, publishing (including us, TechCrunch) and advertising.

Verizon near deal to sell Yahoo and AOL

Verizon near deal to sell Yahoo and AOL
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Verizon near deal to sell Yahoo and AOL

Verizon near deal to sell Yahoo and AOL
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Verizon Near Deal to Sell Yahoo and AOL

Verizon Near Deal to Sell Yahoo and AOL
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