Yahoo has a new owner, again

Apollo Global Management on Wednesday said it hadcompleted its acquisition of Yahoo, formerly part of Verizon Media.

Yahoo will operate as a standalone company under Apollo, according to a release.

The company will be led by Guru Gowrappan, who was previously the CEO of Verizon Media.

Verizon will retain a 10% stake in the company.

Verizon acquired AOL in 2015 andYahoo in 2016, paying about $9 billion for the pair.

The company took a$4.6 billion write-downon the merger in 2018.