Verizon Explores Sale of Media Assets

Verizon Communications Inc. VZ 0.20% is exploring a sale of its media assets including Yahoo and AOL, according to people familiar with the matter, signaling a dramatic reversal of the communications company’s once-lofty ambitions in the sector.

The sales process, which includes private-equity firm Apollo Global Management Inc., APO 0.44% could yield a price of $4 billion to $5 billion, the people said, assuming there is a deal.

This article will be updated.

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