Verizon is offloading its media entities to like Yahoo and AOL to Apollo Global Management, the wireless network announced in a press release. The agreement between both parties will see Verizon receive $5 billion from Apollo and keep a ten percent ownership stake of the new company.
“We are excited to be joining forces with Apollo,” Guru Gowrappan, CEO of Verizon Media, said. “The past two-quarters of double-digit growth have demonstrated our ability to transform our media ecosystem.”
“With Apollo’s sector expertise and strategic insight, Yahoo will be well-positioned to capitalize on market opportunities, media, and transaction experience and continue to grow our full-stack digital advertising platform. This transition will help to accelerate our growth for the long-term success of the company.”
This sale is another symbol of Verizon looking to steer away from media and focus on its wireless network and internet provider business. Recently, Verizon has sold HuffPost to BuzzFeed and sold off Tumblr.
“We are big believers in the growth prospects of Yahoo and the macro tailwinds driving growth in digital media, advertising technology, and consumer internet platforms,” David Sambur, Senior Partner and Co-Head of Private Equity at Apollo, said.
“Apollo has a long track record of investing in technology and media companies, and we look forward to drawing on that experience to help Yahoo continue to thrive.”
Verizon Media purchased AOL for $4.4 billion in 2015 and Yahoo for $4.5 billion in 2017, so in less than six years, both media entities saw a sheer drop in valuation by the company. Verizon and Apollo should finalize the sale of AOL and Yahoo in the second half of 2021.
Trump-related Accounts Suspended by Twitter
Accounts tied to the launch of the former president’s blog popped up earlier this week
In January, following the attack on the U.S. Capitol, Twitter permanently suspended the account of former President Donald Trump.
However, there are motions to get the ex-commander-in-chief back on social media. Recently, Facebook and Instagram upheld their decision to ban Trump from its platforms.
Meanwhile, on Twitter, Salon reports that the social media outlet recently suspended four high-profile Trump account duplicates after their creation, including @DJTrumpDesk, @DeskofDJT, and @DeskofTrump1 and @DJTDesk, which had accumulated several thousand followers before going dark.
“As stated in our ban evasion policy, we’ll take enforcement action on accounts whose apparent intent is to replace or promote content affiliated with a suspended account,” a Twitter spokesperson said.
On the Trump side of this controversy, the former president had a spokesperson, Jason Miller, state to NBC News that no one affiliated with him is responsible for creating these Twitter accounts.
Recently, Trump announced a new platform, called “From the Desk of Donald J. Trump,” allowing him to post comments, images, and videos on his DonaldJTrump.com website. This blog also permits people to share that content themselves on social media.
Washington Post Nears Hire of New Executive Editor
Insiders favor current national editor for the spot
The Washington Post is in the latter stages of filling its top editor position. Long-time
executive editor Marty Baron retired from this role in February after spending over eight
years with the newspaper.
According to The Daily Beast, The Post has narrowed its search to a few names to
replace the retiring Baron. The first name is an internal candidate in national editor
“Ginsberg is broadly well-liked in the Washington Post newsroom, insiders said, at a
time when there has been increasingly public tensions between many staffers and the
paper’s management,” The Daily Beast wrote.
“But he is not seen as a major player in the broader media business, and selecting
Ginsberg, who is white, would buck the trend of powerful news outlets like CBS News,
ABC News, MSNBC, and the Los Angeles Times making diverse hires for their top
When it comes to external candidates, The New York Times assistant managing editor
Marc Lacey has the most substantial chance of landing the position. Lacey, a prominent
Black journalist, is held in very high esteem at the Times and was part of two Pulitzer
Selecting Lacey would be a splashy and diverse hire for the newspaper should they go
that route. Other names in contention for the position are interim editor Cameron Barr,
National Geographic editor Susan Goldberg, and New York Times deputy managing
editor Carolyn Ryan.
Talcott Shifts to WH Beat for Daily Caller
Talcott moves from serving as a field reporter.
The Daily Caller has a new correspondent covering the White House as Shelby Talcott announced on Twitter that she’s the media outlets Senior White House Correspondent. The current Senior Media Reporter and Field Correspondent will begin her new position next week.
“Personal News. Super excited to announce that I’ll be starting as the @DailyCaller’s Senior White House Correspondent on Monday! Really looking forward to this new opportunity!” Talcott tweeted.
Geoff Ingersoll, The Daily Caller’s editor-in-chief, took to Twitter as well to congratulate Talcott on her new position within the media outlet.
So excited for Shelby and the brand, couldn’t think of anyone better to fill these shoes in Datoc’s absence. Now … let’s get to work,” Ingersoll tweeted.
As The Daily Caller’s Field Correspondent, Talcott had the unfortunate event of being arrested along with her colleague Jorge Ventura last September while covering the Louisville protest in the aftermath of a grand jury verdict in the Breonna Taylor case.
Despite revealing themselves as journalists, both were held in a detention center for 16 hours, with Talcott being charged with failure to disperse and unlawful assembly.
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