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Verizon Is Exploring Sale of Yahoo, AOL (Report)
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<p>Verizon is exploring a potential sale of its media assets, including Yahoo and AOL, the Wall Street Journal reported on Wednesday.</p>
<p>A spokesperson for Verizon declined to comment.</p>
<p>The sale, should it go through, could be worth $4 billion to $5 billion and would include the private equity firm Apollo Global Management, according to the Journal.</p>
<p>Verizon acquired AOL in 2015 for $4.4 billion and added Yahoo’s core assets to its portfolio in 2016 for $4.8 billion.In 2017, after officially closing its deal to acquire Yahoo, Verizon sought to merge the two brands under the Oath umbrella, which was later rebranded to Verizon Media Group alongside other Verizon-owned media outlets like TechCrunch and HuffPost. But the telecom giant has struggled to turn a profit on its media assets and, in 2019, Verizon cut 800 jobs as it turned its focus on video and mobile.</p>
<p>The telecom giant most recently sold HuffPost, which it acquired through the AOL acquisition, to BuzzFeed last November in a stock deal. The deal formally went through this past February but resulted in the loss of at least 47 positions at HuffPost.</p>
<p>More to come…</p>
<p>Source: <a href="https://www.thewrap.com/verizon-is-exploring-sale-of-yahoo-aol-report/" target="_blank" rel="noopener">Read Full Article</a></p>
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