Verizon sells Yahoo and AOL for $ 5 billion to the Apollo fund

US telecommunications company Verizon announced the sale of the Verizon Media subsidiary, which includes the Yahoo portal and Internet service provider AOL, to the Apollo Global Management investment fund for $ 5 billion (approximately € 4.1 billion). Verizon will retain a 10 percent stake in the company, which will be named Yahoo.

Yahoo and AOL had been two of the major companies Verizon bought in recent years (Verizon had bought AOL in 2015 for 4.4 billion dollars e Yahoo in 2016 for $ 4.8 billion) and their sale is the latest in a series of steps Verizon made to exit the media sector. In 2019 he had sold the Tumblr social network to WordPress and in 2020 the news site Huffpost a Buzzfeed.

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