Verizon sells Yahoo and AOL businesses to Apollo for $5 billion (2024)

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Verizon sells Yahoo and AOL businesses to Apollo for $5 billion? ›

Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the companies announced Monday. The sale allows Verizon to offload properties from the former internet empires of AOL and Yahoo. Verizon will keep a 10% stake in the company and it will be rebranded to just Yahoo.

Yahoo and AOL, formerly known as Verizon Media, have officially been acquired by their new owners and renamed as simply “Yahoo.” Verizon announced it was selling the properties to Apollo Global Management in May in a deal said to be worth $5 billion, around half of the nearly $9 billion the telecom giant originally ...

Verizon offloaded its media business to Apollo Global Management in a deal valued at $5 billion as the mobile phone giant focuses on building out its 5G network. Yahoo and AOL, kings of the early internet, saw their fortunes decline as Silicon Valley raced ahead to create new digital platforms.

Catch up quick: Apollo acquired Yahoo and AOL collectively from Verizon for $5 billion, a sum smaller than the combined annual revenues of both companies at the time.

Verizon had said on Monday that it would buy Yahoo's core internet properties for $4.83 billion to expand its digital advertising and media business and compete with Facebook Inc (FB. O) and Alphabet Inc's (GOOGL.

in full: Yahoo! Inc. Yahoo!, global Internet brand and services provider based in Sunnyvale, California, and owned by Verizon Communications since 2017. It was founded in 1994 by Jerry Yang and David Filo, graduate students at Stanford University in California. Yahoo!

Apollo Asset Management

Yahoo / Parent organization

There are still 1.5 million people paying a monthly subscription service fee for AOL — but instead of dial-up access, these subscribers get technical support and identity theft software. The number of AOL dial-up subscribers is now “in the low thousands,” according to a source.

More than 1.5 million subscribers still pay a monthly fee for an AOL email account, years after it became free in 2006 for those savvy enough to opt out.

A string of poor business choices has ultimately led to the company's demise, and recently Verizon agreed to purchase Yahoo's core business for $4.83 billion. Yahoo presents an interesting business case for online MBA students, who can learn from both Yahoo's successes and mistakes.

Is Yahoo still profitable? ›

It seems like last year their revenue was about 2.5 billion and their profit was around 23 million - https://finance.yahoo.com/news/annual-report-2019-outlook-20...

In addition to the aforementioned Athene, an $11 billion all-stock acquisition it closed in 2022, Apollo currently owns security firm ADT, which it bought in 2016, and Yahoo Inc. (Yahoo Finance's parent company), which it acquired in 2021 for $5 billion.

According to these data, the United States spent $25.8 billion on hardware, facilities, and overhead directly associated with Project Apollo between fiscal years 1960 and 1973.

Verizon

Vodafone Group

On June 23, 2015, AOL was acquired by Verizon Communications for $4.4 billion. On May 3, 2021, Verizon announced it would sell Yahoo and AOL to private equity firm Apollo Global Management for $5 billion. On September 1, 2021, AOL became part of the new Yahoo! Inc.

Verizon has retired our email service.

We no longer offer verizon.net email service, and have previously notified all verizon.net email customers of the need to immediately migrate their email to the AOL platform (to maintain their verizon.net email address) or a third party platform.

On June 23, 2015, AOL was acquired by Verizon Communications for $4.4 billion. On May 3, 2021, Verizon announced it would sell Yahoo and AOL to private equity firm Apollo Global Management for $5 billion. On September 1, 2021, AOL became part of the new Yahoo! Inc.

Your Verizon email account was merged into AOL several years back, and subsequently all moved/sold off to Yahoo in 2021. So Yahoo now runs the Verizon.net, aol.com and yahoo.com email services, as well as other domain names. You can find a complete list of domains that Yahoo controls here.

Verizon has retired our email service. We have completed our notifications regarding this change, and customers no longer have the option to keep their Verizon.net email address or extract and move their data to another service provider. For support and help with your email, please contact your email provider directly.