Verizon Media Sold, Company Renamed Yahoo

By Arnaud Fischer|2021-05-06T10:59:47+00:00May 6th, 2021|Categories: Uncategorized|

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Apollo Global Management will pay about $5 billion to acquire Verizon Media, which includes Yahoo and AOL, from Verizon Communications. The new company will be called Yahoo.

News of the sale broke last week when The Wall Street Journal reported that a purchase was drawing near. Now the media outlet has confirmed the sale this morning.

Apollo, a private-equity firm, plans to pay $4.25 billion in cash for a majority stake in the media assets. Verizon Communications will hold an interest in the businesses of about $750 million. The WSJ also reports that it will keep a 10% stake in the new Yahoo.

Verizon Media Sold, Company Renamed Yahoo 05/04/2021 (mediapost.com)

About the Author: Arnaud Fischer

Internet Search technology, marketing and business professional developing and taking to market technology platforms, SAAS Web services and online advertising solutions with Microsoft, AOL, Altavista, Glam. Product Leader with proven track record in strategic planning, product management, product marketing, brand development, positioning, communication, differentiation, messaging, organic search engine optimization, online display advertising, paid search, social media marketing, monetization and new product launch with the unique combination of strategic vision and tactical skills.