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Apollo to focus on commerce, content and betting with new Yahoo business – TechCrunch

Document Analysis NLP IA

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it's an affirmation
Affirmation0.5121359223301

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Summary (IA Generated)

With Verizon’s long-anticipated sale of its media business now finally in progress — by way of a deal, announced earlier today, with private equity firm Apollo paying $5 billion for Yahoo, AOL, and the many various internet brands and services that are part of the operation (including us, TechCrunch) — the next very likely question is, what comes next?.

Hans Vestberg, the CEO of Verizon, laid out a taste of what is to come: commerce, content and betting.

In an internal memo to employees, Vestberg said that Apollo’s “powerful vision” will be not just playing on revenue-generating businesses that have been grown out as a part of Verizon Media, but leveraging that to work with other assets that Apollo has in its portfolio, which include a pretty wide range of companies in the TMT sector such as Rackspace and Charter Communications, as well as a ton of other kinds of companies across retail, financial services, industrial and manufacturing, and more.

“What made Apollo’s offer so appealing, is that it includes leveraging the entire Verizon Media ecosystem of adtech, affiliate relationships, data, insights, targeting and reach,” Vestberg said.

While this is a bittersweet moment, Verizon will maintain a minority stake in the new company, which upon deal closing will be called Yahoo.

This is a big step forward for our Media team.

Apollo has a powerful vision that includes aggressively pursuing growth areas in commerce, content and betting.

What made Apollo’s offer so appealing, is that it includes leveraging the entire Verizon Media ecosystem of adtech, affiliate relationships, data, insights, targeting and reach.

I believe this move is right for all of our stakeholders including the Media employees.

I couldn’t be more proud of the work that media/verizon-yahoo-sold-apollo/index.html”>Guru, his leadership team, and the entire Media team of “Builders” has done to get to this point.

It’s important that we continue to stay focused on our ongoing work together, across all our business units and continue to deliver the best customer experiences we are known for.


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