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Yahoo and AOL are sold, again, for about $5 billion.

Credit...Richard Drew/Associated Press May 3, 2021, 7:31 a.m. ET Verizon Communications, signaling that it has given up on its media business, said on Monday that it had agreed to sell Yahoo and AOL to the private equity firm Apollo Global Management for $5 billion. The sale also includes Verizon’s advertising technology business. Verizon will retain a 10 percent stake in the overall business, it said in a statement. “This next evolution of Yahoo will be the most thrilling yet,” Guru Gowrappan, Verizon Media’s chief executive, said in a memo to employees Monday, which was obtained by ...

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 Yahoo and AOL umbrellas like TechCrunch, Yahoo Finance and Engadget go to Apollo at much lower valuations than they commanded just a few years ago. Verizon bought AOL for $4.4 billion in 2015 and Yahoo two years later for $4.5 billion. Verizon will get $4.25 billion in cash from the sale along with its 10% stake in the company. Verizon and Apollo said they expect the transaction to close in the second half of 2021. There has been increasing evidence recen...

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 Engadg...

Verizon Communications is reportedly considering selling its media division which includes brands such as Yahoo! and AOL, according to people familiar with the matter.