Yahoo and America Online are currently owned by the American telecom company Verizon.Which bought them thinking that with their help Verizon would be able to realize its business aspirations in the media and online sectors.But things did not go as planned.Verizon has now decided to sell the two technology companies to a private investment company for 5 billion.
The new owner is Apollo Global Management
An announcement issued by Verizon on Monday stated that the company would sell the two companies to Apollo Global Management.An agreement has been reached between Verizon and Apollo Global in this regard.
It could be something with your kids on the internet!
Apollo will not only buy Yahoo and AOL from Verizon, but will buy the entire Verizon media unit for 5 billion, including the advertising technology operations of both Yahoo and AOL. Also included.
At the same time, in a statement issued on May 3, Verizon said that it will continue to hold 10% stake in Verizon Media and will continue to be led by its current head Guru Gorapan.
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