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Yahoo, AOL to be acquired by Apollo Funds for $5 billion

4May By AdityaNo Comments

ACQUISITION

Yahoo, AOL to be acquired by Apollo Funds for $5 billion

NEW YORK May 4, 2021 - Verizon media will be acquired by affiliates of Apollo the “Apollo Funds” for $5 billion. Verizon Media is comprised of iconic brands such as Yahoo and AOL, as well as leading ad tech and media platform businesses. Verizon will retain a 10% stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan. The corporate carveout will allow Verizon Media to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners and nearly 900 million monthly active users worldwide. “We are excited to be joining forces with Apollo,” said Guru Gowrappan, CEO, Verizon Media. “The past two-quarters of double-digit growth have demonstrated our ability to transform our me...

Great Hill Partners Acquires Digital Media Group Gizmodo

Great Hill Partners, a leading growth-oriented private equity firm has acquired Gizmodo Media Group and The Onion, a collection of premium digital content producers, from Univision Communications Inc. The combined assets will form a new company named G/O Media Inc. that will be led by digital content industry veteran James (“Jim”) Spanfeller, who will also be a significant investor in the company. The Financial terms of the deal were not disclosed. Gizmodo Media Group and The Onion which was earlier acquired by the Gawker Media reach more than a third of all Americans online each month with approximately 100 million unique visitors, including its extended network. The Company’s collection of digital-first brands serve young, diverse influencers with content that reflects t...

Anand Mahindra Invested in SheThePeople.TV

Anand Mahindra, Chairman of Mahindra Group has invested into India’s largest digital storytelling platform for women SheThePeople.TV, founded by award winning journalist Shaili Chopra. Mr Mahindra has invested in his private capacity in the video platform, which is building a much-needed digital media space and ecosystem for women achievers and is dedicated to championing and promoting their success stories. Regarding his decision to support the platform, Mr Mahindra said ‘Women need a space that quenches their intellectual hunger, engages, and empowers them with relatable content. With Shaili as founder possessing a solid understanding of both conventional and digital media over 15 years, I have great confidence that SheThePeople.TV will become a focal point of inspiration for tomor...