Image: Thiago A.

Verizon has sold Verizon Media, its media division comprising classic online service provider AOL and web portal Yahoo, to investment firm Apollo Global Management in a deal that’s estimated to be worth $5 billion. This appears to be a loss for Verizon, as the telecommunications giant originally paid $9 billion for the two subsidiaries. Verizon will maintain a 10 percent stake in Verizon Media, which will be known as Yahoo at the close of the transaction.

Verizon originally paid $4.4 billion for AOL in 2015 and another $4.5 billion for Yahoo two years later. The media divisions, which included properties like Yahoo Sports, TechCrunch and Engadget, were consolidated under the absurdly named Oath, later renamed Verizon Media Group in 2018 after Verizon admitted defeat and wrote off about half of its value.

Sources: Verizon, The Verge

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3 Comments

  1. 1) buy worthless companies AOL + Yahoo for 9 billion
    2) piledrive the decaying husks of both into the ground
    3) sell for half the price
    4) profit?
  2. Don’t forget the value of all of the Metadata they pillaged and leveraged for profit before moving to sell. I doubt they actually lost money.
  3. Don’t forget the value of all of the Metadata they pillaged and leveraged for profit before moving to sell. I doubt they actually lost money.

    That’s the only way this makes any sense. What’s weird is that Apollo Global Management thinks AOL and Yahoo! are actually worth 5 billion dollars. These are vestiges of the early internet age and seem irrelevant and obsolete.

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