Verizon on Monday unveiled a deal to sell its media group, known as Verizon Media, to private equity firm Apollo Global Management for $5 billion. Verizon Media includes brands Yahoo and AOL, as well as ad tech and media platform businesses.
Verizon will retain a 10% stake in company, which will be called Yahoo and be led by Verizon Media CEO Guru Gowrappan.
“With Apollo’s sector expertise…
Source CNET Tech