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…
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