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Breaking News: Verizon will sell Yahoo and AOL for $5 billion, giving up on its digital-media ambitions in the face of competition from Google and Facebook.

 
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BREAKING NEWS

Verizon will sell Yahoo and AOL for $5 billion, giving up on its digital-media ambitions in the face of competition from Google and Facebook.

Monday, May 3, 2021 8:07 AM EST

Verizon Communications, signaling that it has given up on its media business, said on Monday that it agreed to sell Yahoo and AOL to the private equity firm Apollo Global Management for $5 billion.

The sale includes Verizon's advertising technology business as well, and the company will retain a 10 percent stake in the business, Verizon said in a statement announcing the deal.

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