{"id":123526,"date":"2021-05-03T13:22:06","date_gmt":"2021-05-03T13:22:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123526"},"modified":"2021-05-03T13:22:06","modified_gmt":"2021-05-03T13:22:06","slug":"apollo-acquires-verizons-yahoo-aol-businesses-for-5b","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/economy\/apollo-acquires-verizons-yahoo-aol-businesses-for-5b\/","title":{"rendered":"Apollo acquires Verizon\u2019s Yahoo, AOL businesses for $5B"},"content":{"rendered":"
mergers & acquisitions
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Microsoft reportedly in talks to buy AI firm Nuance for about $16B
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News Corp. ups private bond offering to $1B amid buying spree
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Private equity firm Apollo Global Management has acquired Verizon\u2019s media group for $5 billion, the two companies announced Monday. <\/p>\n
Verizon Media, which includes properties from the former internet empires of AOL and Yahoo, will be rebranded as \u201cYahoo,\u201d the announcement said. Verizon said it will keep a 10 percent stake in the company. <\/p>\n
The sale includes online news outlets TechCrunch, Yahoo Finance and Engadget and others. Apollo and Verizon said they expect the sale to close in the second half of 2021.<\/p>\n
Verizon is cutting its losses on its media businesses, with the deal valuing the businesses at significantly lower prices than Verizon paid just a few years ago. Verizon bought AOL for $4.4 billion in 2015, and it bought Yahoo for $4.5 billion in 2017.<\/p>\n
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