Private equity firm Apollo agrees to buy Verizon Media assets for $5 billion

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Following several days of negotiation and rumors, Verizon today announced that it has entered an agreement to sell its media assets to private equity firm Apollo Global Management for $5 billion. The deal includes $4.25 billion in cash and preferred interests of $750 million. It will also see Verizon retaining 10% of the business, but its divestment signifies a formal…
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