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Verizon Nears Deal to Sell Media Arm to Apollo

  • Deal for Verizon Media could be announced as soon as Monday
  • Division includes online brands Yahoo!, AOL and TechCrunch
A pedestrian passes a Verizon store.
Photographer: Taylor Glascock/Bloomberg
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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.