9.5.2021 | Verizon is planning to sell Yahoo and AOL for approximately $4 billion each.
According to a report from Ars, Verizon is now trying to sell Yahoo and AOL, the once-dominant Internet brands that fell from prominence for about $4 billion each.
"Verizon is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media," The Wall Street Journal reported. The sale process involves private-equity firm Apollo Global Management and "could lead to a deal worth $4 billion to $5 billion," the Journal wrote, citing "people familiar with the matter."
Ars asked Verizon if it has a response to the WSJ report today, and a spokesperson told us the company has "nothing to add." Verizon purchased AOL in 2015 for $4.4 billion and bought Yahoo in 2017 for $4.5 billion, combining the two into a subsidiary called "Oath."