Verizon Selling Yahoo And AOL To Private Equity Firm Apollo Funds For $5 Billion Verizon Media, the telecom giant’s media division comprising Yahoo and Apollo Funds for $5 billion. Verizon said this morning that, per the terms of the transaction, it will receive $4.25 billion in cash, $750 million in preferred interest, and will maintain a 10% stake in the new company, which will be called Yahoo and continue to be led by its current CEO, Guru Gowrappan. The deal is set to close in the second half of this year. Verizon Media is also home to popular web brands like Techcruch and Engadget, as well as a lucrative ad business — though the move signals Verizon is throwing in the towel on its longstanding media ambitions. Verizon has also shed other media properties in recent months, selling