Verizon has announced that it’s selling its Verizon Media division, which is comprised of Yahoo and AOL. The deal is worth $5 billion for a 90% stake in the company, with Verizon keeping 10%.
Verizon has announced that it’s selling its Verizon Media division off to Apollo Funds, an investor group comprised of associates of Apollo Global Management. The transaction will cost $5 billion, and it sees the transfer of 90% of the ownership of the company to Apollo Funds, with Verizon retaining a 10% stake. If you’ve forgotten by now, Verizon Media is the sub-division created by Verizon to house its media-related acquisitions, AOL and Yahoo!.
