Apollo to acquire Verizon’s media assets for $5 billion


NEW DELHI: Apollo Global Management said it has agreed to buy Verizon Communications‘ media unit that includes Yahoo and AOL for $5 billion, the US wireless carrier said on Monday.
Under deal terms, Verizon will get $4.25 billion in cash, preferred interests of $750 million and retain a 10% stake in Verizon Media.
The business will be called Yahoo when the deal closes, which is expected in the second half of 2021, the company said.