Yahoo Moves To New Owner
Yahoo will be moving to a new owner according to WSJ: Verizon is reportedly considering a sale of its media assets, such as Yahoo and AOL, perhaps to a private-equity outfit like Apollo Global Management. The deal would likely be in the region of $4 billion to $5 billion. Reminder: Verizon paid over $9 billion for Yahoo and AOL.
Verizon Communications Inc. is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media.
The sales process, which includes private-equity firm Apollo Global Management Inc., could lead to a deal worth $4 billion to $5 billion, according to people familiar with the matter—assuming there is one. Other details couldn’t be learned.