Briefing
markets

Verizon Sells Yahoo and AOL Businesses to Apollo

By
Martin Peers
· · Source: The Information

Verizon is selling its digital media businesses, Yahoo and AOL, to Apollo Global Management for $5 billion, a roughly 40% discount for when it acquired the two companies between 2015 and 2017. The sale ends Verizon’s short-lived effort to build a digital ad business, which began with the 2015 purchase of AOL. That brought digital ad veteran Tim Armstrong into Verizon, leading to the 2017...

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