Apollo International Administration is a personal fairness agency that bought a majority in Verizon Media in a $5 billion deal. Verizon’s minority stake shall be valued at 10%. Verizon Media at the moment operates various completely different platforms together with Yahoo, AOL, TechCrunch, and others, which generally obtain roughly 900 million month-to-month customers.
“We’re thrilled to assist unlock the great potential of Yahoo and its unparalleled assortment of manufacturers,” mentioned Reed Rayman, a Non-public Fairness Associate at Apollo.
The media group shall be renamed Yahoo and it is going to be nonetheless be run by Guru Gowrappan, the present Chief Government.
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