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Verizon sells Yahoo and AOL as part of $5 billion deal

Verizon sells Yahoo and AOL as part of $5 billion deal

Verizon will sell its media group to private equity firm Apollo Global Management for $5B. The sale allows Verizon to offload properties from the former internet empires of AOL and Yahoo. Verizon will retain a 10% stake in the company and the new company will be rebranded to just Yahoo. Verizon and Apollo said they expect the transaction to close in the second half of 2021.

Kathy
Kathy
Top in Business