Verizon dumps AOL and Yahoo in fire sale

There was a time when AOL was on track to becoming the biggest media empire in the world (in 2000 AOL bought Time Warner for $182 billion). There was a time when Yahoo was synonymous with the World Wide Web (in 1999 its market cap was $125 billion). Today Verizon managed to get fifty cents on the dollar for the two 1990s relics. The buyer, who paid $5 billion for both properties, is Apollo a "private equity firm that owns the Venetian resort in Las Vegas and crafts retailer Michaels,' reports The Verge. "Apollo co-founder Leon Black recently stepped down as Chairman, soon after it was revealed that he paid more than $150 million to Jeffrey Epstein."