Verizon sells off Yahoo, AOL to private equity firm for $5 billion
By Austine in Business
Updated 3 years ago
May 3 (UPI) -- Verizon has agreed to sell Yahoo and AOL to private equity firm Apollo Global Management for $5 billion, the company announced Monday. Verizon said it would retain a 10% stake in the business, which will change its name from Verizon Media to Yahoo. The company will continue to be led by Verizon CEO Guru Gowrappan.
