Verizon Buy Or Sell
Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the companies announced Monday. The sale allows Verizon to offload properties from the former internet empires of AOL and Yahoo.
verizon buy or sell
There has been increasing evidence recently that Verizon wanted to sell off its media properties and instead focus on its wireless networks and other internet provider businesses. Last year, Verizon sold HuffPost to BuzzFeed. It also recently sold off or shut down other media properties like Tumblr and Yahoo Answers.
Verizon Communications Inc. has agreed to sell its blogging website Tumblr to the owner of popular online-publishing tool WordPress.com, unloading for a nominal amount a site that once fetched a purchase price of more than $1 billion.
Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag "well below" $20 million, while another source puts it below $10 million.
The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. The network was acquired by Yahoo for $1.1 billion in 2013, before moving under Verizon's umbrella through the carrier's acquisition of Yahoo in 2017. Verizon's desire to sell Tumblr had been previously known, but as of May, Pornhub had been the only bidder to show public interest.
"The [Verizon Media] business, which also includes Yahoo Finance and Yahoo Mail as well as news sites TechCrunch and Engadget, generated $7 billion of revenue in 2020, down 5.6 percent from the previous year due to a sharp advertising pullback during the early months of the coronavirus pandemic," the Journal report said. "Business picked up in the second half and the unit has logged two consecutive quarters of double-digit growth, including a boost of 10 percent, to $1.9 billion, in the first quarter." However, the media business "failed to reach its target of $10 billion in annual revenue by 2020," and "[b]y selling now, Verizon could raise needed cash at a time when valuations of similar assets are enjoying an upswing," the Journal wrote.
Released last year, the PS5 remains hard to find, with online retailers often selling out of available inventory in minutes. The demand -- from both consumers as well as bots and scalpers -- has been so high that retailers have begun putting the consoles behind paywalls, requiring buyers subscribe to premium membership services for the chance to buy a system.
Verizon spokesman Chris Serico said that the company will be selling "a very limited quantity" of PS5 consoles "in a handful of pilot stores" as well as online. Those looking to buy online will also need to have a Verizon wireless account and active service with the carrier. Those shopping in the company's stores will not need to be a Verizon customer to buy a PS5, though it has not revealed which locations will offer the PlayStations.
In addition to the PS5 consoles, Verizon is selling accessories including a Pulse 3D headset, DualSense controllers and the PS5 media remote. While the headset is currently out of stock, you don't need a Verizon account to buy a controller.
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But the most spectacular of Verizon's media misfires ended on Monday, when Verizon announced it was selling AOL and Yahoo to Apollo Global Management for $5 billion. That's about half what it paid for the two companies, not including the huge sums it has poured into trying to make them a big business. At their peaks, AOL and Yahoo were worth about $325 billion combined. Now even $5 billion seems like a lot.
The telecom giant is one of the most successful companies in the world (it currently sits at number 15 on the Fortune 500), and its growth has largely been driven by its wireless business, which now boasts 108.6 million mobile connections. However, growth in the mobile market is likely to slow in the coming years, with any significant revenue generated by luring consumers away from competing mobile operators or selling current customers more than one device. The days of huge quarterly subscriber connections are over, which means the company needs to find a new cash cow if it intends to keep growing.
However, that's prohibited by federal law. To avoid running afoul of the Federal Communications Commission, Verizon is selling a duplicate license in each city to AT&T Wireless. "We had two licenses in each market," said Bell Atlantic spokesman Jim Gerace. "We had to give up one."
The U.S. Department of Justice last December set the sell-off of the duplicate licenses as a condition for approving the plan to create Verizon Wireless. In San Francisco, Verizon plans to retain a license that previously was owned by Irving, Texas-based GTE and sell another that had been jointly owned by New York City-based Bell Atlantic and London-based Vodafone.
An iPhone may also become password-locked if you incorrectly enter the passcode six times in a row. Whether you forgot your password or simply made errors in entering it, you can still sell your iPhone.
There are no restrictions on selling an iCloud-locked iPhone. You must be honest about it and ensure the buyer understands that you do not have the Apple ID or password to access the phone and unlock its features completely.
If it is possible at all, remove the iCloud lock before you try to sell it. iCloud-locked iPhones are worth very little, and finding interested buyers can be difficult because of it. Many buyers are only interested in purchasing the phones for scrape parts. As long as you acquired the iPhone legally, you can sell it, but price expectations should be low.
If the iPhone you are trying to sell was not acquired legally, for example, you stole it or found it, then you are legally required to take the appropriate steps to locate the owner before attempting to sell it.
You need to contact the local police station to see if it has been reported missing or stolen and to ask if they want to keep it as evidence. If you cannot locate the owner and the police do not need the phone, you can contact one of these stores to sell the iPhone.
Yes, you can sell locked iPhones. Many buyback stores will take them as is, but if you can unlock the phone, you may be able to get paid more. In some cases, a lot more. You can find out who buys locked iPhones online. A quick search will tell you who buys iCloud-locked iPhones, as well as buyers interested in passcode-locked and even blacklisted iPhones.
When you sign up for a service term or monthly installment plan, your carrier extends you a line of unsecured credit. As a result, the carrier cannot repossess your phone, and you can sell your phone, even if you still owe money on it.
Yes, you can sell your Verizon phone, even if you still owe money on it. However, if you fail to make your monthly payments or pay the ATF, Verizon will blacklist your phone, and the person you sold it to will no longer be able to use it.
If AT&T is your carrier, you can also sell your phone if you still owe money on it. However, you will have to keep paying your bill or pay the ETF. If you fail to make your monthly payments, AT&T will likely blacklist it, and the buyer will not be able to use it.
You can sell your Sprint phone if you owe money, but you have to continue with your monthly payments or pay the phone off. If you fail to pay for the phone, Sprint will blacklist the device, rendering it useless for the buyer.
As is the case with other carriers, you can sell your T-Mobile phone if you still owe money. After selling your phone, you will have to pay off the phone or continue with the monthly payments to prevent the T-Mobile from blacklisting the device.
Some of our vendors will buy a phone with a bad ESN. However, if you sell your blacklisted phone, additional steps may be necessary to ensure that the phone is rightfully yours and not lost or stolen. Our buyers also typically offer about 50 percent less for phones that have a bad ESN.
Unfortunately, it is not possible to sell a leased Sprint phone. With a financing contract, you buy the phone, and if you sell it, you can use the money to pay it off immediately. With a lease, however, the phone is not yours to sell. If you choose to buy the phone after the lease term, you are free to sell it.
Wrapping 2016 up with another blockbuster deal for the data center industry, Equinix has agreed to acquire a portion of the data center portfolio Verizon Communications has been attempting to sell since at least last year. 041b061a72