Verizon is selling Yahoo and AOL for $5 Billion to a private equity firm Apollo Global Management.
By selling Yahoo and AOL, Verizon will put its focus on other assets.
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| Verizon selling Yahoo and AOL for $5 Billion to Apollo: eAskme |
Other people are at: Yahoo Answers Shut Down
Even though Verizon is set to sell AOL and Yahoo, the company will hold a 10% stake even when the brand will be rebranded as Yahoo.
This also means that the other products under Yahoo and AOl shadows, such as Engadget, Yahoo Finance, and Techcrunch, will also go to Apollo.
Remember: Verizon has bought Yahoo for $4.5 billion and AOL for $4.4 billion.
Sources say that Verizon will get $4.25 billion in cash. This means that Verizon will lose more than $4 million but get a 10% stake in the business.
It seems that Verizon is trying to get rid of its media assets.
Note: Verizon sold Huffpost to Buzzfeed in 2020.
Verizon has purchased these businesses with the dream to take over the online advertising industry share of Google and Facebook.
Both Yahoo and AOl come under project Oath. But Oath failed severely. Later they rebranded Oath as Verizon Media Group, but still no success.
Now the Apollo wants to use these businesses to learn how to run each one of them.
It will be good to see how Yahoo and AOL grow under Apollo.
Who knows is you see growth or find them lost in the history of the internet?
Do you want to know more..... Stay tuned with us.
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