Verizon sells Yahoo and AOL to Apollo for $5 billion

Yahoo and AOL are changing hands again. 

Verizon, which purchased AOL in 2015 and Yahoo in 2017, is now selling them to private equity company Apollo Global Management for $5 billion. 

Verizon merged AOL and Yahoo into a subsidiary called Oath in 2017, eventually rebranding it into Verizon Media. The new company, in which Verizon will retain a 10 percent stake, will be rebranded as just "Yahoo." 

Verizon originally acquired AOL for $4.4 billion and Yahoo for $4.5 billion, which makes this a pretty bad deal, overall, for Verizon. However, Verizon Media did do well in 2020, posting strong revenue growth, which continued into 2021.  Read more...