A Majority of Verizon Media Was Sold to a Private Equity Firm
Daniel Johnson — May 4, 2021 — Business
References: verizon & marketingdive
Verizon recently agreed to sell off the majority of its digital media business, named Verizon Media, to Apolla Global Management Inc., but Verizon will maintain a minority stake in the company.
Apollo Global Management is a private equity firm that purchased a majority in Verizon Media in a $5 billion deal. Verizon's minority stake will be valued at 10%. Verizon Media currently operates a number of different platforms including Yahoo, AOL, TechCrunch, and others, which typically receive approximately 900 million monthly users.
“We are thrilled to help unlock the tremendous potential of Yahoo and its unparalleled collection of brands,” said Reed Rayman, a Private Equity Partner at Apollo.
The media organization will be renamed Yahoo and it will be still be run by Guru Gowrappan, the current Chief Executive.
Image Credit: Shutterstock
Apollo Global Management is a private equity firm that purchased a majority in Verizon Media in a $5 billion deal. Verizon's minority stake will be valued at 10%. Verizon Media currently operates a number of different platforms including Yahoo, AOL, TechCrunch, and others, which typically receive approximately 900 million monthly users.
“We are thrilled to help unlock the tremendous potential of Yahoo and its unparalleled collection of brands,” said Reed Rayman, a Private Equity Partner at Apollo.
The media organization will be renamed Yahoo and it will be still be run by Guru Gowrappan, the current Chief Executive.
Image Credit: Shutterstock
Trend Themes
1. Private Equity Acquisitions - The trend of private equity firms acquiring well-established companies creates opportunities for disruptive innovation in management and operational strategies.
2. Media Consolidation - The consolidation of media organizations by private equity firms creates opportunities for disruptive innovation in content creation, distribution, and monetization strategies.
3. Brand Revitalization - Private equity acquisitions of established brands present opportunities for disruptive innovation in brand repositioning, product development, and customer engagement strategies.
Industry Implications
1. Private Equity - Private equity firms can capitalize on the trend of acquiring established companies by developing innovative financial models, management practices, and value creation strategies.
2. Media and Entertainment - The media and entertainment industry can leverage the trend of consolidation and brand revitalization to innovate in content creation, monetization, and distribution strategies.
3. Technology - The technology industry can explore innovative solutions to support the media and entertainment industry in their consolidation, content creation, and customer engagement processes.
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