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Verizon Nears Deal to Sell Media Arm to Apollo.

Verizon Communications Inc. is nearing an agreement to sell its media division to Apollo Global Management Inc., according to people with knowledge of the matter, a move that would jettison once-dominant online brands like AOL and Yahoo!. A deal for Verizon Media could be announced as soon as today, said the people, who asked to not be identified because the matter isn’t public. Verizon will keep a stake in the business, they said.

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