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On Monday, Verizon Communications Inc. (NYSE:VZ) announced an agreement to sell Verizon Media, including Yahoo and AOL, to Apollo Global Management Inc. (NYSE:APO) for a total sum of $5 billion.
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 ...
The company is headquartered in Manhattan, New York. [15] As of December 2019, the company employed about 10,350 people. [2] [16]A year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal for Yahoo!'s core Internet business, to invest in the Internet company's search, news, finance, sports, video, emails and Tumblr products. [17]
The sale will see online media brands under the former Yahoo and AOL umbrellas like TechCrunch, Yahoo Finance and Engadget go to Apollo. Verizon sells Yahoo and AOL businesses to Apollo for $5 billion
Yahoo's first acquisition was the purchase of Net Controls, a web search engine company, in September 1997 for US$1.4 million. As of April 2008, the company's largest acquisition is the purchase of Broadcast.com , an Internet radio company, for $5.7 billion, making Broadcast.com co-founder Mark Cuban a billionaire.
Altaba Inc. was a non-diversified, closed-end management investment company based in New York City [2] that was formed from the remains of the first incarnation of Yahoo! Inc. after Verizon had acquired old Yahoo's Internet business. [3] Verizon completed its acquisition on June 13, 2017, and put the assets under a new subsidiary named Yahoo!
Verizon is throwing in the towel on its content business, announcing plans to offload Verizon Media — which encompasses the AOL and Yahoo brands it acquired several years ago — in a $5 billion ...
In February 2016, Mayer confirmed that Yahoo! was considering the possibility of selling its core business. [69] In March 2017, it was reported that Mayer could receive a $23 million termination package upon the sale of Yahoo! to Verizon. [70] Mayer announced her resignation on June 13, 2017. [71]