The New York Times reports:
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 transaction is the latest turn in the history of two of the internet’s earliest pioneers. Yahoo used to be the front page of the internet, cataloging the furious pace of new websites that sprang up in the late 1990s. AOL was once the service that most people used to get online.
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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. https://t.co/UqqyAuSDxr
— The New York Times (@nytimes) May 3, 2021