Verizon is exploring a sale of Yahoo and AOL that would end a rocky era for the telco as a media owner after a spate of disappointing acquisitions.
A sale could bring $4 billion to $5 billion and giant investment group Apollo Global Management is said to involved, according to a report in the Wall Street Journal.Reps for Verizon and Apollo weren’t immediately available to comment.The move, while a reversal, would not be surprising.
Verizon bought the once mighty internet pioneer turned sort of punchline AOL for $4.4 billion in 2015, and Yahoo for $4.5 billion two years later.
It merged them into a new venture it called Oath and named Tim Armstrong, AOL’s then CEO, to run it. He left in late 2018. Around then, Verizon announced a hefty $4.6
Read more on deadline.com
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