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APOLLO GLOBAL MANAGEMENT, INC.

(APO)
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Apollo Buys Yahoo, AOL From Verizon for $5 Billion

05/03/2021 | 06:43am EDT

By Micah Maidenberg

Apollo Global Management Inc. agreed to pay about $5 billion to acquire Yahoo and AOL from Verizon Communications Inc. as the wireless giant exits its ill-fated foray into the media business.

The private-equity firm is paying $4.25 billion in cash for a majority stake in the media assets and providing Verizon with interests in the businesses totaling $750 million. In addition, Verizon will keep a 10% stake in a new company, called Yahoo, that will be formed to operate the business.

The Wall Street Journal earlier reported Apollo's interest in Verizon Media's business, which mostly struggled to grow against Google and Facebook Inc. Verizon Media had about $7 billion in revenue last year.

Ben Mullin, Miriam Gottfried and Drew FitzGerald contributed to this article

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

05-03-21 0843ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.77% 2694.53 Delayed Quote.54.94%
APOLLO GLOBAL MANAGEMENT, INC. -1.11% 58.86 Delayed Quote.20.17%
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
FACEBOOK INC -0.56% 356.3 Delayed Quote.30.44%
VERIZON COMMUNICATIONS -0.36% 55.78 Delayed Quote.-4.71%
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More news
Financials (USD)
Sales 2021 2 121 M - -
Net income 2021 - - -
Net Debt 2021 4 153 M - -
P/E ratio 2021 -
Yield 2021 4,14%
Capitalization 13 674 M 13 674 M -
EV / Sales 2021 8,40x
EV / Sales 2022 7,58x
Nbr of Employees 1 725
Free-Float 90,9%
Chart APOLLO GLOBAL MANAGEMENT, INC.
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Apollo Global Management, Inc. Technical Analysis Chart | APO | US03768E1055 | MarketScreener
Technical analysis trends APOLLO GLOBAL MANAGEMENT, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 58,86 $
Average target price 66,20 $
Spread / Average Target 12,5%
Managers and Directors
Marc Jeffrey Rowan Chief Executive Officer & Director
Scott Martin Kleinman Co-President & Director
James Charles Zelter Co-President & Director
Martin Kelly Co-Chief Operating & Financial Officer
Walter Clayton Non-Executive Chairman
Sector and Competitors