{"id":240981,"date":"2021-05-03T15:50:59","date_gmt":"2021-05-03T12:50:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/private-equity-firm-apollo-acquires-verizon-media-group-for-5b\/"},"modified":"2021-05-03T15:50:59","modified_gmt":"2021-05-03T12:50:59","slug":"private-equity-firm-apollo-acquires-verizon-media-group-for-5b","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/private-equity-firm-apollo-acquires-verizon-media-group-for-5b\/","title":{"rendered":"#Private equity firm Apollo acquires Verizon media group for $5B"},"content":{"rendered":"

“#Private equity firm Apollo acquires Verizon media<\/a> group for $5B<\/strong>”<\/p>\n

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Private equity firm Apollo Global Management has acquired Verizon\u2019s media group for $5 billion, the two companies announced <\/a>Monday.\u00a0<\/p>\n

Verizon Media, which includes properties from the former internet empires of AOL and Yahoo, will be rebranded as \u201cYahoo,\u201d the announcement said. Verizon said it will keep a 10 percent stake in the company.\u00a0<\/p>\n

The sale includes online news<\/a> outlets TechCrunch, Yahoo Finance, Engadget and others. Apollo and Verizon said they expect the sale to close in the second half of 2021.<\/p>\n

Verizon is cutting its losses on its media businesses, with the deal valuing the businesses at significantly lower prices than Verizon paid just a few years ago. Verizon bought AOL for $4.4 billion in 2015, and it bought Yahoo for $4.5 billion in 2017.<\/p>\n

Verizon will get $4.25 billion in cash for the properties, in addition to its 10 percent stake in Yahoo.\u00a0<\/p>\n

The COVID-19 pandemic hammered the advertising market a year ago, sending revenue for advertising-driven online publications into a spiral. In the announcement of Monday\u2019s deal, Verizon Media CEO Guru Gowrapp<\/a>an touted the company\u2019s strong recent recovery from last year\u2019s lows. He added that Apollo will help the company grow its \u201cfull stack digital advertising platform.\u201d<\/p>\n

\"Former
Former internet giant AOL is part of the deal.<\/figcaption>
SOPA Images\/LightRocket via Gett<\/span><\/figcaption><\/figure>\n

\u201cWe are big believers in the growth prospects of Yahoo and the macro tailwinds driving growth in digital media, advertising technology<\/a> and consumer internet platforms,\u201d David Sambur, co-head of Private Equity at Apollo, said in a statement. \u201cApollo has a long track record of investing in technology and media companies and we look forward to drawing on that experience to help Yahoo continue to thrive.\u201d<\/p>\n

The deal is Verizon\u2019s latest step toward exiting the media market. Verizon sold HuffPost to BuzzFeed last year and it also recently\u00a0sold off or shut down other properties\u00a0including Tumblr and Yahoo Answers.<\/p>\n

As it exits media, Verizon is expected to focus on its core\u00a0wireless networks business and other internet provider businesses.\u00a0<\/p>\n

\"Yahoo
Yahoo will also be in the new acquisition as well.<\/figcaption>
ASSOCIATED PRESS<\/span><\/figcaption><\/figure>\n

For once-powerful media giants AOL and Yahoo, the deal represents failure to adapt and thrive as the consumer internet evolved. The two companies were early titans as the consumer internet formed, but have now become the latest media operations to fall into the hands of private equity.\u00a0\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Private equity firm Apollo acquires Verizon media group for $5B” Private equity firm Apollo Global Management has acquired Verizon\u2019s media group for $5 billion, the two companies announced Monday.\u00a0 Verizon Media, which includes properties from the former internet empires of AOL and Yahoo, will be rebranded as \u201cYahoo,\u201d the announcement said. Verizon said it will…<\/p>\n","protected":false},"author":1,"featured_media":240982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/yahoo-aol-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[104284,104326,72964,70584,73394,73819],"class_list":["post-240981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-3-21","tag-aol","tag-apollo-global-management","tag-mergers-acquisitions","tag-verizon","tag-yahoo"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/240981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=240981"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/240981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/240982"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=240981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=240981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=240981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}