Verizon is one of the largest telecommunications companies in the world, but have you been wondering who owns Verizon media?
Well, I’ve been researching who owns Verizon Media and have found out a lot of details that you’ll be interested to know so keep reading to learn what I’ve discovered!
Who Owns Verizon Media In 2024?
Verizon media is owned by Apollo Global Management which is a private equity firm in 2024. Apollo Global Management completed the acquisition of Verizon Media in September 2021, with the deal being worth about $5 billion with $4.25 billion in cash. However, Verizon still retains 10% of the rebranded Verizon Media company.
Do you want to know more details about who owns Verizon Media? If so, continue reading below to find out all about Verizon Media!
Who Is the CEO Of Verizon Media?
The CEO of Verizon Media is Guru Gowrappan, who has stayed in the role of CEO even after Verizon Media was acquired by Apollo Global Management.
Also, before becoming CEO of Verizon, Gowrappan was the Global Managing Director for Alibaba and his focus was expanding internationally and dealing with international e-commerce.
Gowrappan began his career by creating two different startup companies in India before moving and graduating from the University of Southern California with an M.S. in computer science.
Is Verizon Media Part of Yahoo?
Verizon Media was a combination of AOL and Yahoo, which was purchased by Verizon and rebranded as Oath before it became Verizon Media.
However, with Apollo Global Management acquiring Verizon Media, the private equity firm has renamed the company Yahoo, which means Yahoo is back to being Yahoo.
What Is Verizon Media Used For?
Verizon Media included a wide range of advertising, technology, content services and included famous brands under one umbrella such as:
- Yahoo Properties (Mail, Finance, Sports, and more)
Furthermore, Verizon Media was an attempt by Verizon to get into the digital advertising world to compete with the likes of Facebook and Google, however, it failed pretty quickly!
What Companies Does Apollo Global Own?
Apollo Global Management has acquired and invested in several companies over the years including:
- Cox Media Group
- Smart & Final
- Sirius Satellite Radio
- University of Phoenix
Also, Apollo Global Management owns and operates Apollo Investment Corporation, which is a private equity close-ended business development and private equity firm.
Furthermore, Apollo Investment Corporation is a publicly-traded company owned and operated in the United States.
Who Founded Apollo Global Management?
Apollo Global Management was founded by Josh Harris, Marc Rowan, and Leon Black in 1990.
Does AT&T Own Verizon Media?
AT&T has no involvement with Verizon Media and is not affiliated with the services and products that were offered when Verizon purchased Yahoo and turned it into Yahoo Media.
Does Microsoft Own Yahoo?
Microsoft does not own Yahoo and was not part of Verizon Media in any way, but Microsoft did try to acquire Yahoo and failed, which may have been good news for Microsoft.
Does Verizon Have An Interest in Buying Verizon Media?
It’s unlikely that Verizon will try to buy Verizon Media again, even though Verizon still owns a 10% stake in the company.
Additionally, Verizon Media has now turned back into Yahoo and has been acquired by Apollo Global Management so we don’t see any future for Verizon taking back over Verizon Media.
Verizon has gone back to focusing on telecommunications, such as expanding its 5G network nationwide and appears to have no interest in returning to the digital advertising world.
However, we cannot say for sure that in the future Verizon won’t try to invest in another company or try to increase its stake in Yahoo.
Apollo Global Management, which is a private-equity firm, acquired Verizon Media from Verizon in a deal worth $5 billion including $4.25 billion in cash. However, Verizon maintains a 10% stake in the new company, and Guru Gowrappan continues as the CEO of Verizon Media.
Additionally, Apollo Global Management rebranded Verizon Media to Yahoo and owns and operates several companies including Shutterly, ADT, Redbox, and CareerBuilder.