Verizon AT&T AOL Yahoo Merger Selloff

Verizon selling Yahoo and AOL to Apollo in £3.6 billion deal – feeds.breakingnews.ie

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

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Verizon tries to sell Yahoo and AOL after spending $9 billion on fallen giants – arstechnica.com

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.”

Verizon faces ‘lose-lose’ situation amid aggressive AT&T promotions, analyst says in downgrade – www.marketwatch.com

From www.marketwatch.com Excerpt: AT&T’s Inc.’s aggressive wireless promotions could put Verizon Communications Inc. in a “lose-lose” situation, according to an analyst. When AT&T T, -0.58% launched attractive promotional offers late last year in an attempt at retaining existing subscribers, there were questions about whether the company could maintain these deals for a sustained period of […]…

Verizon is considering selling the remnants of AOL and Yahoo — here are the most valuable pieces – www.cnbc.com

From www.cnbc.com Excerpt: There are some intriguing assets within Verizon Media — what used to be called AOL and Yahoo — for certain buyers. 2021-05-01 09:46:00…

Verizon Near Deal to Sell Yahoo and AOL – www.nytimes.com

From www.nytimes.com Excerpt: The private equity firm has been on a buying spree in the past few months, announcing deals to acquire the crafts retailer Michaels and the Venetian resort in Las Vegas. It has also had a shake-up in its senior ranks, with its co-founder, Leon Black, announcing in late March that he was […]…

Verizon near deal to sell Yahoo and AOL – www.baltimoresun.com

From www.baltimoresun.com Excerpt: It was all in the pursuit of almighty “scale,” a business term of art that has almost become a religious mantra in Silicon Valley. But the forces of internet economics had already shifted years before, and user-generated content, whether in the form of Facebook posts or YouTube videos, drove much of online […]…

Verizon Nears Deal to Sell Yahoo and AOL: Live Updates – www.nytimes.com

From www.nytimes.com The New York Times Excerpt: Here’s what you need to know: Credit…Richard Drew/Associated Press Verizon Communications, signaling that it has given up on its media business, is near a deal to sell Yahoo and AOL to the private equity firm Apollo Global Management, two people with knowledge of the matter said on Sunday. […]…

Verizon sells AOL and Yahoo for about half of what it paid : worldnews – www.reddit.com- The Verge

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.