Cheraw Chronicle

Complete News World

Verizon Sells AOL and Yahoo to Asset Manager for $ 5 Billion – IT Pro-News

Verizon will sell Verizon Media to Apollo asset manager for the equivalent of € 4.15 billion. Verizon Media includes Yahoo and AOL. This company is now known as Yahoo. Verizon owns ten percent of the shares.

CEO Guru Goraban stays with Yahoo’s new parent company, Verizon writes. Verizon said the acquisition allows the former Verizon Media to “pursue robust growth.” Verizon CEO Hans Westberg said that in the past 2.5 years, Verizon Media could have transformed into a company that “has the potential to grow”. Vestberg doesn’t say why the company was selling. He says Yahoo now needs a “full investment” and the appropriate resources.

Yahoo believes it could play a big role among Generation Z people looking for general and financial news. Verizon indicates that according to the research, Yahoo News is said to be the fastest growing news organization on TikTok.

Under the agreement, Verizon will receive $ 4.25 billion, $ 750 million Favorite interests The company holds 10 percent of the new Yahoo shares. In addition to AOL and Yahoo, many advertising companies and media platforms are included with Verizon Media. Among other things, technology sites Engadget and TechCrunch She is Verizon Media Companies. The acquisition is expected to be completed in the second half of the year.

Verizon AOL slept In 2015 for $ 4.4 billion, Yahoo He followed suit a year later For a $ 4.8 billion acquisition. With the two companies, Verizon wanted to compete with Google and Facebook in terms of advertising, among other things. Most recently, the company has focused less on the media, for nearly two years For example, the company sold the microblogging site Tumblr.

See also  Almost 700 cases per day in our country: "The number of omicron infections is increasing rapidly"