Angela Lang/CNET
Apollo Global Management on Wednesday said it had completed its acquisition of Yahoo, formerly part of Verizon Media. The private equity firm in May agreed to acquire Verizon’s media group — which included brands such as Yahoo and AOL, as well as ad tech and media platform businesses — for $5 billion.
Yahoo will operate as a standalone company under Apollo, according to a release. The company will be led by Guru Gowrappan, who was previously the CEO of Verizon Media. Verizon will retain a 10% stake in the company.
Source CNET Tech
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