CNN BUSINESS | Verizon offloads Yahoo and AOL in $5 billion deal
New York (CNN Business) – Verizon is exiting
the media business, announcing Monday that it’s selling the unit for $5 billion
to private equity firm Apollo Global Management.
The sale includes AOL and Yahoo, which Verizon
bought for a combined $9 billion in recent years. Verizon will retain a 10%
stake in the spin off and the Verizon Media Group name will be changed to just
Yahoo. —read
more—
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