AOL and Yahoo are being sold again, this time to a private equity firm.
Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a $5 billion deal.
Verizon said Monday that it will keep a 10% stake in the new company, which will be called Yahoo.
As part of the deal, Verizon will receive $4.25 billion in cash, preferred interests of $750 million and the minority stake. The transaction includes the assets of Verizon Media, including its brands and businesses such as Yahoo and AOL.
The deal is expected to close in the second half of the year.
I have an idea for a future in-depth report. How do I tell you about it?
Today’s Top Stories
- Say goodbye to extra Chick-fil-A sauce… for now
- Found a dryer sheet in your mailbox? It’s probably your mail carrier
- Teen who died after ATV side-by-side accident is identified
- Utah Governor Spencer Cox joins call to end enhanced unemployment
- Park City mom Jenn Drummond eyes Everest Summit as training run for ‘Second Seven’
- Provo woman pleads guilty to PPP loan application fraud
- Business owners concerned about drug use, violence around North Temple
- Salt Lake’s ranks fourth nationally for pickleball but what is it?
- Judge dismisses NRA bankruptcy case, leaving group to face lawsuit in New York State
- Salt Lake City officials say improvements to North Temple homeless camps may be slow, but…