Verizon sells media business after struggle to dent digital advertising duopoly

Verizon entered an agreement to sell the majority of its digital media business, Verizon Media, to private equity firm Apollo Global Management for $5 billion, according to an announcement. Under the deal, Verizon will preserve a 10% stake in the group that owns Yahoo, AOL, TechCrunch and a smattering of ad-tech and publishing offerings.