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
