Verizon Communications Inc. is nearing an agreement to sell its media division to Apollo Global Management Inc., according to people with knowledge of the matter, a move that would jettison once-dominant online brands like AOL and Yahoo!.
A deal for Verizon Media could be announced as soon as Monday, said the people, who asked to not be identified because the matter isn’t public. Verizon will keep a stake in the business, they said.
