omdok
No Result
View All Result
Monday, August 8, 2022
  • Login
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
Subscribe
omdok
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
omdok
No Result
View All Result
Home Business

For $5 billion, Apollo acquires Verizon’s Yahoo and AOL companies

May 3, 2021
in Business
154 3
Verizon's media division has been acquired for $5 billion in a new deal.

Verizon's media division has been acquired for $5 billion in a new deal.

31
SHARES
3.1k
VIEWS
Share on FacebookShare on Twitter
Apollo Global Management, a private equity company, has purchased Verizon’s media division for $5 billion, the two companies reported Monday.

Verizon Media, which contains properties from AOL and Yahoo’s former internet empires, will be rebranded as “Yahoo,” according to the announcement. Verizon stated that it would retain a 10% stake in the company.

TechCrunch, Yahoo Finance, and Engadget are among the online news outlets included in the deal. Apollo and Verizon have stated that the transaction is expected to close in the second half of 2021.

Verizon is reducing its losses on its media companies through the agreement, which values the businesses considerably less than Verizon charged only a few years earlier. Verizon acquired AOL in 2015 for $4.4 billion, and Yahoo in 2017 for $4.5 billion.

AOL, the former internet behemoth, is included in the contract.
AOL, the former internet behemoth, is included in the contract.
Verizon will receive $4.25 billion in cash in addition to its 10% interest in Yahoo.

A year ago, the COVID-19 pandemic wreaked havoc on the advertising industry, sending revenue for advertising-supported online publications into a tailspin. Verizon Media CEO Guru Gowrappan touted the company’s recent good rebound from last year’s lows in Monday’s announcement. Apollo, he added, would assist the organization in growing its “full stack digital advertising network.”

“We are strong believers in Yahoo’s growth prospects and the macroeconomic tailwinds driving growth in digital media, advertising technology, and consumer internet platforms,” said David Sambur, Apollo’s co-head of private equity. “Apollo has a long history of investing in technology and media businesses, and we look forward to using that expertise to ensure Yahoo’s continued success.”

Yahoo will also be included in the latest acquisition.
Yahoo will also be included in the latest acquisition.

Verizon has taken another step toward leaving the media business with this contract. Verizon sold HuffPost to BuzzFeed last year and recently divested or shut down additional assets, including Tumblr and Yahoo Answers.

Verizon is expected to concentrate on its core wireless networks and other internet provider businesses after its departure from television.

The deal reflects AOL and Yahoo’s inability to adapt and prosper as the consumer internet grew. The two firms were pioneers of the consumer internet, but have since become the newest media companies to be acquired by private equity.

Tags: Acquires

Market News

Julie Bishop is in a video with Hollywood stars for her new job with a mining services company in Perth. The video is for new employees.
Business

Julie Bishop Hollywood heavyweights, wiki bio net worth video Instagram

by adminmi
July 17, 2022
0

Julie Bishop says that a Perth mining services company will give her a new job. In a funny new video...

Read more
Apple just came out with a new MacBook Air that comes in four colors: silver, space gray, new starlight, and midnight.

 2022 Updated features MacBook Air silver, space grey and new starlight and midnight

July 17, 2022
Why is the euro falling dollar parity definition, stock market today

Why is the euro falling dollar parity definition, stock market today

July 12, 2022
Elon Musk has taken steps to cancel his agreement to buy Twitter. But the company is set on making the deal happen anyway.

The case between Elon Musk and Twitter is now in court, $44 billion offer to buy

July 10, 2022
In June, Charif Souki was in London.

Charif Souki tellurian news net worth, LNG plant at Sabine Pass is in Cameron

July 10, 2022
Real Estate

Jada group Sydney construction industry collapses, report Mac Insolvency lodged with ASIC

July 19, 2022

Categories

  • Business
  • Cryptocurrency
  • Economy
  • Gadget
  • Markets
  • Politics
  • Real Estate
  • Startup
  • Tech
  • Uncategorized
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
omdok

About the latest trends in the business world in-depth features on a variety of topics. Focus on the intersection between business and pop culture and between business and politics.

omdok.com © 2021 all rights reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate

omdok.com © 2021 all rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version