Verizon sells Yahoo and AOL to Apollo for $5 billion

Yahoo and AOL are changing hands again. 

Verizon, which purchased AOL in 2015 and Yahoo in 2017, is now selling them to private equity company Apollo Global Management for $5 billion. 

Verizon merged AOL and Yahoo into a subsidiary called Oath in 2017, eventually rebranding it into Verizon Media. The new company, in which Verizon will retain a 10 percent stake, will be rebranded as just "Yahoo." 

Verizon originally acquired AOL for $4.4 billion and Yahoo for $4.5 billion, which makes this a pretty bad deal, overall, for Verizon. However, Verizon Media did do well in 2020, posting strong revenue growth, which continued into 2021.  Read more...

More about Yahoo, Verizon, Tech, and Big Tech Companies

Source : http://feeds.mashable.com/~r/Mashable/~3/v4hUW3yaXag/