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Yahoo has a new owner, again

Bapun Raz

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Apollo Global Management on Wednesday said it had completed its acquisition of Yahoo, formerly part of Verizon Media. The private equity firm in May agreed to acquire Verizon's media group -- which included brands such as Yahoo and AOL, as well as ad tech and media platform businesses -- for $5 billion.

Yahoo will operate as a standalone company under Apollo, according to a release. The company will be led by Guru Gowrappan, who was previously the CEO of Verizon Media. Verizon will retain a 10% stake in the company.

 
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