Verizon Sells Yahoo and AOL <br />to Apollo for $5 Billion.<br />The companies made the <br />announcement on May 3.<br />Apollo will acquire online media brands such as TechCrunch, Yahoo Finance and Engadget which were under the former AOL and Yahoo umbrellas.<br />Verizon will receive $4.25 billion in cash <br />and maintain a 10% stake in the company <br />that will be rebranded as Yahoo.<br />The sale indicates that Verizon is shifting its focus away from media to wireless networks and other internet-related businesses.<br />In a similar move last year, <br />the wireless company <br />offloaded HuffPost to BuzzFeed.<br />Both companies expect the sale to be <br />completed in the second half of 2021
