Verizon Explores Sale of Media Assets, Including Parts of Yahoo and AOL [telecom]

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Private-equity firms including Apollo are among possible bidders for Verizon media assets, sources say.

By Benjamin Mullin and Miriam Gottfried

Verizon Communications Inc. is exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media.

The sales process, which includes private-equity firm Apollo Global Management Inc., could lead to a deal worth $4 billion to $5 billion, according to people familiar with the matter - assuming there is one. Other details couldn't be learned.