Media Enterprise Acquisitions

Verizon not too long ago agreed to unload nearly all of its digital media enterprise, named Verizon Media, to Apolla International Administration Inc., however Verizon will preserve a minority stake within the firm.

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.

Picture Credit score: Shutterstock

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