Verizon AT&T AOL Yahoo Merger Selloff
From feeds.breakingnews.ie BreakingNews.ie Excerpt: AOL and Yahoo are being sold again, this time to a private equity firm.
Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management, in a five billion US dollar (£3.6 billion) deal.
Verizon said on Monday that it will keep a 10% stake in the new company, which will be called Yahoo.
As part of the deal, Verizon will receive 4.25 billion US dollars (£3.06 billion) in cash, preferred interests of 750 million US dollars (£540 million) and the minority stake.
The transaction includes the assets of Verizon Media, including its brands and businesses such as Yahoo and AOL.
|Institution Name||Shares Held(% Change)||% Outstanding|
|Tiger Global Management, L.L.C.||33,913,500(0.00%)||14.62|
|The Vanguard Group, Inc.||17,621,428(+0.11%)||7.60|
|Capital World Investors||11,921,674(+0.29%)||5.14|
|ClearBridge Investments, LLC||8,136,747(+0.44%)||3.51|
|Invesco Advisers, Inc.||7,224,920(-0.11%)||3.11|
|BlackRock Institutional Trust Company, N.A.||7,128,967(+0.04%)||3.07|
|Capital Research Global Investors||6,560,331(+2.83%)||2.83|
|Capital International Investors||5,549,970(+0.00%)||2.39|
|Janus Henderson Investors||3,948,680(-0.35%)||1.70|
|Putnam Investment Management, L.L.C.||3,612,931(-0.02%)||1.56|
|State Street Global Advisors (US)||3,315,795(-0.02%)||1.43|
|Beck, Mack & Oliver LLC||3,159,056(-0.05%)||1.36|
|MFS Investment Management||2,409,993(-0.52%)||1.04|
|Legal & General Investment Management Ltd.||2,316,392(+0.04%)||1.00|
|Zurich Insurance Group||2,235,074(+0.17%)||0.96|
From arstechnica.com Jon Brodkin Excerpt: Verizon is reportedly ready to give up on Yahoo and AOL after spending a combined $9 billion on the once-dominant Internet brands that fell from prominence years before Verizon bought them.
“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 yesterday. 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.”
We asked Verizon if it has a response to the WSJ report today, and a spokesperson told us the company has “nothing to add.”
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From www.reddit.com /u/shubhbadonia The Verge Excerpt: Verizon has sold its AOL and Yahoo properties to Apollo Global Management in a deal said to be worth $5 billion, about half of the nearly $9 billion Verizon originally paid for the pair. Verizon will maintain a 10 percent stake in the company, now known as Yahoo and led by CEO Guru Gowrappan. The deal, which includes Verizon’s ad tech business, was heavily rumored over the last week and is still subject to closing conditions. Once complete, it’ll bring an end to Verizon’s troubled experiment with media production and advertising.