You are here: Home » Companies » News
Business Standard

Verizon selling Yahoo, AOL unit to Apollo in $5-billion deal

As part of the deal, Verizon will receive $4.25 billion in cash, preferred interests of $750 million and the minority stake

Topics
Verizon | Verizon Yahoo | Yahoo!

AP | PTI  |  New York 

verizon

AOL and Yahoo are being sold again, this time to a private equity firm.

will sell Media, which consists of the pioneering tech platforms, to Apollo Global Management in a $5 billion deal.

said Monday that it will keep a 10 per cent 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 03 2021. 18:16 IST
RECOMMENDED FOR YOU
.