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Verizon Explores Sale Of Media Assets : WSJ

Verizon Communications Inc. (VZ) is exploring a sale of assets including Yahoo and AOL, as the company looks to exit an expensive and unsuccessful bet on digital media, the Wall Street Journal reported citing people familiar with the matter.

The sales process, which includes private-equity firm Apollo Global Management, could lead to a deal worth $4 billion to $5 billion, the report said.

Verizon had spent billions of dollars to assemble a portfolio of once-dominant websites, including AOL in 2015, and Yahoo in 2017, paying more than $9 billion in total to acquire the them.

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