Verizon sells Yahoo and AOL businesses to Apollo for $5 billion

May 3, 2021 admin

Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the two companies announced Monday. The sale allows Verizon to offload properties from the former internet empires of AOL and Yahoo. Verizon will keep a 10% stake in the company and it will be rebranded to just “Yahoo.” CNBC's Andrew Ross Sorkin reports.

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