Science

Apollo to buy Verizon media business for $ 5 billion

(Reuters) – Private equity group Apollo Global Management to buy Verizon Communications’ media division, which includes Yahoo and AOL, for $ 5 billion (€ 4.15 billion), the operator said on Monday. American mobile phone.

Under the terms of the deal, Verizon will receive $ 4.25 billion in cash, $ 750 million in preferred stock and will retain a 10% stake in Verizon Media.

The branch will take the name of Yahoo once the transaction is finalized, probably in the second half of the year, Verizon said.

The American operator had bought the messaging service AOL for 4.4 billion dollars in 2015 and the Internet activities of Yahoo for 4.48 billion dollars in 2017.

Verizon’s media division reported first quarter 2021 revenue of $ 1.9 billion.

(Eva Mathews, French version Laetitia Volga, edited by Jean-Stéphane Brosse)

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