Verizon Is Weighing a Sale of Yahoo, AOL
Friday April 30, 2021. 03:25 AM , from Slashdot
According to Bloomberg, Verizon is considering selling AOL and Yahoo -- two once high-flying dot-com brands it purchased in 2015 and 2017, respectively. Bloomberg reports: Verizon Media could fetch as much as $5 billion. The company is talking to Apollo Global Management about a deal, they said. It couldn't immediately be learned how a deal would be structured or if other suitors may emerge. No final decision has been made and Verizon could opt to keep the unit. The move comes as Verizon divests tertiary media assets while ramping up its focus on its wireless business and the the rollout of its 5G service. Last year, it agreed to sell the HuffPost online news service to BuzzFeed Inc. and it unloaded the blogging platform Tumblr in 2019. This divestiture would mark Verizon's final retreat from an expensive foray into online advertising, a strategy that never really took off.
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