Tag Archives: Verizon

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

Verizon has sold its AOL and Yahoo properties to Apollo Global Management in a deal said to be worth $5 billion, about half of the nearly $9 billion Verizon originally paid for the pair. Verizon will maintain a 10 percent stake in the company, now known as Yahoo and led by CEO Guru Gowrappan. The deal, which includes Verizon’s ad tech business, was heavily rumored over the last week and is still subject to closing conditions. Once complete, it’ll bring an end to Verizon’s troubled… Source link

The private equity firm has been on a buying spree in the past few months, announcing deals to acquire the crafts retailer Michaels and the Venetian resort in Las Vegas. It has also had a shake-up in its senior ranks, with its co-founder, Leon Black, announcing in late March that he was stepping down as chairman after the revelation he had paid more than $150 million to the disgraced financier Jeffrey Epstein. Apollo declined to comment. Verizon didn’t respond to requests for comment…. Source link

Karen Bleier | AFP | Getty Images Verizon‘s $9 billion bet on AOL and Verizon hasn’t led to riches for shareholders of the largest U.S. wireless company. But other buyers may still find value in some of the assets. Verizon is weighing a sale of Verizon Media Group — previously called Oath, and before that, simply the merged AOL-Yahoo internet group — according to a person familiar with the matter. The Wall Street Journal first reported on the potential sale, which the newspaper said could… Source link

US operator Verizon opened talks with private equity company Apollo Global Management regarding the possible sale of its media assets, The Wall Street Journal (WSJ) reported. The operator is reportedly discussing the sale of Yahoo and AOL for $4 billion to $5 billion. It acquired AOL for $4.4 billion in 2015 and spent $4.8… Source link

Enlarge / Yahoo logo at the 2014 International CES conference in Las Vegas. Getty Images | Ethan Miller Verizon is reportedly ready to give up on Yahoo and AOL after spending a combined $9 billion on the once-dominant Internet brands that fell from prominence years before Verizon bought them. “Verizon is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on… Source link

(Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Less than a decade after it entered the media business through its acquisitions of AOL and Yahoo, Verizon VZ Communications reportedly may be preparing to exit the sector, According to The Wall Street Journal, Verizon is “exploring” whether to unload its media properties, which could fetch a price of $4 billion to $5 billion. According to the… Source link

(Reuters) – Verizon Communications Inc is exploring a sale of its media assets, including Yahoo and AOL, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The sales process, which includes private equity firm Apollo Global Management Inc, could yield a price of $4 billion to $5 billion, report said. Yahoo and AOL are the two large brands within Verizon Media, which also owns news publication HuffPost, technology news sites… Source link

Verizon Communications Inc. VZ, +0.20%  is exploring a sale of its media assets including Yahoo and AOL, according to people familiar with the matter, signaling a dramatic reversal of the communications company’s once-lofty ambitions in the sector. The sales process, which includes private-equity firm Apollo Global Management Inc. APO, +0.44%,  could yield a price of $4 billion to $5 billion, the people said, assuming there is… Source link