Monday, May 3, 2021

Yahoo Back After Verizon Media Acquisition

Yahoo--one of the Internet's first companies--is back as a standalone company, after the private equity acquisition of Verizon Media by private equity firm Apollo Funds. According to Verizon and Apollo Global Management, Apollo will pay $5 billion for Verizon Media, which will be renamed Yahoo as a result of the deal. Verizon said it will retain a 10 percent stake in the company. The companies said that under the terms of the agreement, Verizon will receive $4.25 billion in cash, preferred interests of $750 million and retain a 10% stake in Verizon Media. Yahoo was originally founded as a startup back in 1994.