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Verizon CEO memo: Apollo to focus on commerce, content and betting with new Yahoo business
With Verizon’s long-anticipated sale of its media business now finally in progress by way of a deal, announced earlier today, with private equity firm Apollo paying $5 billion for Yahoo, AOL and the many various internet brands and services that are part of the operation (including us, TechCrunch) the next very likely question is, what comes next?
Hans Vestberg, the CEO of Verizon, laid out a taste of what is to come: commerce, content and betting.
In an internal memo to employees, Vestberg said that Apollo’s “powerful vision” will be not just playing on revenue-generating businesses that have been grown out as a part of Verizon Media, but leveraging that to work with other assets that Apollo has in its portfolio, which include a pretty wide range of companies in the TMT sector such as Rackspace and Charter Communications, as well as a ton of other kinds of companies across retai
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