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Verizon sells media assets including Yahoo, AOL units to Apollo for 5 billion USD

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Verizon sells media assets including Yahoo, AOL units to Apollo for 5 billion USD

AOL and Yahoo are being sold again, this time to a private equity firm. Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a USD 5 billion deal.



Verizon said Monday that it will keep a 10 per cent stake in the new company, which will be called Yahoo. As part of the deal, Verizon will receive USD 4.25 billion in cash, preferred interests of USD 750 million and the minority stake.


Also read: Bill Gates and Melinda Gates call it quits after 27 years, announced on Twitter

The transaction includes the assets of Verizon Media, including its brands and businesses such as Yahoo and AOL. The deal is expected to close in the second half of the year.


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