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The multinational US telecommunications conglomerate has announced that it will sell its media group, which includes the brands Verizon, AOL and Yahoo, to private equity firm Apollo Global Management.
In the statement by Yahoo and AOL, it is stated that the company will be sold to Apollo Global Management for $ 5 billion, while Verizon will own 10% of the company.
It has been stated that Verizon’s name will be changed to “Yahoo”, while online media brands under the old Yahoo and AOL umbrellas such as TechCrunch, Yahoo Finance and Engadget will switch to Apollo.
Verizon acquired AOL for $ 4.4 billion in 2015 and Yahoo for $ 4.5 billion in 2017.
YAHOO IS CLICKED 7 BILLION TIMES A DAY
Although Yahoo was originally used as a search engine, over time it has become one of the dominant platforms in the field of email.
Yahoo, which is the 11th most visited site in the world with 7 billion page views per day, continues to be widely used, especially in the UK and US.
HUFFİNGTON POST, TECHCRUNCH VE ENGADGET PLATFORMLARININ SAHİBİ AOL
AOL, short for America OnLine, is one of America’s global mass media companies headquartered in New York City. AOL, the parent company of online media companies such as The Huffington Post, TechCrunch, and Engadget, provides services such as search engine, instant messaging (AIM), email, as well as an Internet service provider.
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