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Verizon Sheds Yahoo

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May 3, 2021, 12:30 PM   by Rich Brome

Verizon has reached an agreement to sell its Verizon Media business — which includes Yahoo and AOL — to Apollo Global Management for $5 billion. Verizon will retain a 10% stake in the new company, to be known simply as Yahoo. The transaction is expected to close in the second half of 2021. Verizon bought AOL in 2015 and Yahoo in 2017.

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