By Kosaku Narioka
Z Holdings Corp. said Monday that it has agreed to pay 178.5 billion yen ($1.61 billion) to Verizon Media for trademark rights in Japan related to Yahoo.
The operator of Yahoo! Japan said new arrangements would terminate the existing license agreement and give the company greater flexibility to use the Yahoo brand and licensed technology in Japan without paying royalties.
Z Holdings said new arrangements would take effect after Apollo Global Management Inc. completes the purchase of Yahoo and AOL media assets from Verizon Communications Inc., which is expected in the second half of 2021.
Write to Kosaku Narioka at firstname.lastname@example.org
(END) Dow Jones Newswires