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Verizon to sell AOL, Yahoo in $5B deal

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Verizon announced plans to sell its media assets, including AOL and Yahoo, in a $5 billion deal.

Apollo Global Management is expected to close on the transaction in the second half of 2021.

Verizon will maintain a 10% stake in a new company created by the deal. It will be known as Yahoo.

Read more from Fox Business.

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