AOL
Verizon Sells AOL & Yahoo, Gets Roughly Half of What It Originally Paid For Both Properties
HipHopWired Featured Video Source: SOPA Images / Getty Verizon has officially sold AOL and Yahoo and took a substantial loss in the process. As spotted on The Verge, Verizon sold AOL and Yahoo properties to Apollo Global Management in a deal that is reportedly worth about $5 billion. Now, that’s nothing to sneeze at if you’re a regular person, but Verizon sold both properties for roughly half of the $9 billion it what it paid for both entities. Apollo, a private equity firm, is best known for owning the Venetian resort in Las Vegas and the crafts retailer Michaels. Apollo made headlines and not in a good way after its co-founder Leon Black stepped down after revealing that he paid over $150 million to alleged sex trafficker Jeffrey Epstein who committed suicide while in police custody...
