Verizon is reportedly considering a sale of its media assets, including AOL and Yahoo
- Verizon Communications is considering selling it's media assets, according to the Wall Street Journal.
- The sale, if it happens, would include Yahoo and AOL.
- Private-equity firm Apollo Global Management Inc. is said to be involved, the sources told The Journal.
Verizon Communications is looking into selling its media assets, people familiar with the matter told the Wall Street Journal.
If a sale happens, it would include Yahoo and AOL, the sources exclusively told The Journal.
The sale process could yield a price of around $4 billion or $5 billion, and private-equity firm Apollo Global Management Inc. is said to be involved, The Journal reported.
Verizon had purchased AOL for $4.4 billion in 2015, and bought Yahoo for $4.5 billion in 2017. That year, the two entities were merged into a media company called Oath, which was later renamed Verizon Media.
Some high-profile Verizon properties have already been sold off in recent years.
The micro-blogging site Tumblr had been purchased by Verizon for $1.1 billion in 2013; six years later, it sold for a paltry $3 million to Wordpress.com's owner, Automattic, the Washington Post reported.
Last year, Buzzfeed News acquired HuffPost off of Verizon's roster in a stock deal.
This is a developing story. Please check back for more updates.