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Apollo close to buying Verizon media assets – sources

A man stands beside a Verizon logo at Mobile World Congress in Barcelona, ​​Spain February 26, 2019.REUTERS / Sergio Perez

Apollo Global Management Inc (APLO.N) was close to buying Verizon Communications Inc (APN.O) media assets in a deal worth nearly $ 5 billion, sources familiar with the matter told Reuters.

Bloomberg had previously reported on Sunday that the announcement might come. ‘As soon as Monday’

Verizon Communications and Apollo Global Management did not immediately respond to a Reuters request for comment.

Last week, the Wall Street Journal reported that Verizon was exploring sales of media assets, including Yahoo and AOL.

Verizon has struggled to ramp up its media properties, declaring them almost worthless with $ 4.6 billion in 2018 notes.

In 2019, it sold blogging platform Tumblr for an undisclosed sum, and last year it sold news site HuffPost to BuzzFeed.Verizon also tested the market for Yahoo Finance’s potential buyers, according to a Reuters report, but eventually ended the deal. Find that

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