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Verizon gives up on media business with sale of Yahoo, AOL for half the initial price

U.S. wireless operator, Verizon Communications, said on Monday that it agreed to sell Yahoo and AOL to the private equity firm Apollo Global Management for $5 billion, about half of the $9 billion it originally paid to acquire the pair in 2017 and 2015 respectively. The sale includes Verizon’s advertising technology business as well, and…

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