Tag Archives: Apollo

Last week, Apollo Global Management agreed to purchase Yahoo and AOL (along with some other digital media assets) from Verizon Communications for $5 billion. Given some of Apollo’s recent acquisitions in the gaming arena—it’s added the Venetian, Great Canadian Gaming and Gamenet in the last 18 months—the speculation is that the private equity firm is hotly pursuing the sports betting gold rush, looking to cash in on Yahoo’s more than 900 million monthly active users. “Sports… Source link

Verizon announced this week that it will sell its AOL and Yahoo assets to Apollo Global Management, Inc. for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo when the transaction closes. The deal allows Verizon Media to pursue other growth areas, which it hopes will benefit its employees, advertisers, publishing partners and approximately 900 million monthly active users around the world. “We are excited to be joining forces with Apollo,”… Source link

The private equity firm Apollo believes it has finally come up with a way to cash in on the promise of Yahoo. But after the venerable but faded online pioneer became a graveyard for the reputations of a succession of media and technology industry leaders, it probably would not pay to assume success too soon. The New York-based investment firm agreed earlier this week to pay communications giant Verizon $5bn for Yahoo, along with AOL and a collection of other digital media… Source link

Underdog Fantasy Raises $10 Million From Kevin Durant, Mark Cuban, Jared Goff and Others By Andrew Cohen May 3, 2021 Fantasy sports app Underdog Fantasy has raised $10 million from a group of investors that includes Dallas Mavericks owner Mark Cuban, Brooklyn Nets star Kevin Durant, Detroit Lions quarterback Jared Goff, and ESPN’s Adam Schefter.   The round was led by angel investor Kevin Carter, who is an advisor at SV Angel, and included investments from music stars such… Source link

Yahoo and AOL, kings of the early internet, saw their fortunes decline as Silicon Valley raced ahead to create new digital platforms. Google replaced Yahoo. AOL was supplanted by cable giants. Now they will become the property of private equity. Verizon, their current owner, agreed to sell them to Apollo Global Management in a deal worth $5 billion, the companies announced Monday. The business housing the two brands, Verizon Media, is to be renamed (yet again) to Yahoo (sans the brand’s… Source link

[unable to retrieve full-text content]Verizon Sells Yahoo, AOL to Apollo – WWD  WWD Source link

Verizon is exiting the media business. The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday. The new company will be called Yahoo and will continue to be run by CEO Guru Gowrappan. Verizon will retain a 10 percent stake in the new company, and LionTree, which served as the lead financial advisor on the transaction, will also be an investor alongside… Source link

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 percent stake in the company and it will be rebranded to just “Yahoo.” The sale will see online media brands under the former Yahoo and AOL umbrellas like TechCrunch, Yahoo Finance and Engadget go to Apollo. Verizon bought AOL in 2015 for… Source link

Website pages from Yahoo! Inc., left, and AOL Inc. are displayed on a computer monitor. Chris Ratcliffe | Bloomberg | Getty Images Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the 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. The sale will see online media brands under the former… Source link