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Apollo Global Management to Buy Verizon Media Group

-- On May 3, 2021, Verizon Communications said it will sell Verizon Media Group to private equity company Apollo Global Management for $5 billion. The business includes the assets of the old AOL and Yahoo companies, which the cellphone giant paid a total of $9.2 billion to acquire some years ago. Verizon will retain a 10% stake in the company, which will be called Yahoo and will continue to be led by CEO Guru Gowrappan.

Verizon issued this press release:
Verizon Media to be acquired by Apollo Funds

Verizon Renames 'Oath' to Verizon Media Group

-- On December 18, 2018, Verizon Communications decided to dump the name 'Oath' for its division operating the former services of AOL and Yahoo. The business was renamed Verizon Media Group effective January 8, 2019.

Guru Gowrappan, who replaced AOL veteran Tim Armstrong as the CEO of Oath on October 1, 2018, said "as part of one Verizon, we're growing our work on tomorrow's technologies — XR, AI, machine-learning, mobile-edge computing, 5G and more." Gowrappan has his work cut out, as he will be aiming to build tomorrow's technologies using yesterday's brands which keep losing value.

On December 11, 2018, Verizon took an accounting charge of $4.6 billion due to the declining value of Oath. In effect, Verizon acknowledged that it wildly overspent to acquire AOL and Yahoo, which together cost it about $9 billion.

AOL Now Part of Verizon's "Oath"

-- July 3, 2017: Wireless giant Verizon Communications paid $4.4 billion to acquire AOL in 2015, including the online brands Huffington Post, Engadget, TechCrunch, MapQuest, AOL Music, AOL Latino and Patch. Verizon followed up in June 2017 by closing on the purchase of most of the old Yahoo company for $4.8 billion.

Now Verizon has combined the AOL and Yahoo businesses into a new division called Oath Inc. The ambiguous name has generated laughs across the digiverse. New Oath CEO (and former AOL CEO) Tim Armstrong recently declared the weakness of the name to be its greatest strength, saying "Oath, as a brand, is really kind of an invisible brand behind our consumer and business brands."

After completing the Yahoo acquisition in June 2017, Verizon said it would lay off 15% of the combined workforce of AOL and Yahoo, or about 2,100 people.

Dear Mr. Katz, also, entering late in the game, Mr. Armstrong:

I read a recent interview with you Mr. Katz and you say you've doubled AOL's content volume and your staff now updates pages continuously.

I'm sorry to disappoint, but do you ever look online?

I can't believe pages are updated on a minute-by-minute basis. News gets stale on AOL. Like old, sliced French bread in a straw basket covered with a cloth napkin stale. Unappealing. News stays on AOL's pages for three sometimes four days at a time, albeit under different headlines perhaps. The headlines are often quite misleading or, at the very least, tiring to those who possess a vocabulary.

Here follows three days or so of some manna from AOL pages:

Fisherman Free Entangled Whale
Seriously, what's wrong with this headline?

Shocking Find on Bike Riders in Cities
Now, doesn't it sound as if the riders have bacteria or too much tar from the road or something? You know what is so shocking in the story? Most riders don't use a helmet.

Shocking Age Kids Start Abusing Painkillers
Is everything shocking to your editors and news staff? Are they neophytes, never go outside, don't posses a thesaurus?

State with healthiest pets may shock you
Really? And then,
Shocking Truths About Retirement
and this,
Bouncer Shocked by Club Goer's ID

Here's something else, the repeated regurgitation of a small item:
Former 'Lost' Star Arrested for DUI
and right next to that is
Troubled Actor Arrested for DUI
and again the next day
Former 'Lost' Star Busted for DUI
and the next day
Former 'Lost' Star Busted for DUI

And here's another oft-repeated news item. I guess it's news to some.
Paltrow Made Surprising Fashion Misstep
and in the same video cycle top left of the page
Actress' Skimpy Dress a Little Too Much?
and in another column on the same page
Gwyneth Paltrow Sports Dangerously Sheer Dress
and the next day
Gwyneth Attempts Dangerous Dress
and in another
Actress' Sheer Dress Caused a Stir

'Swamp Wars': Flesh-Eating Dangerous Lizard Captured In Public Park Restroom (VIDEO)
I don't think readers were ever told exactly what the creature was, not at any length really, and then the next day
Man-Eating Creature Found in Park


Here's a headline:
Activity Kids Should Be Starting Early
The story was actually about yoga and late teens - juniors and seniors - not "kids."

Here are some long-lived stories:
Postcard Hitler Sent in 1916 Unearthed
This is going to run for how long? And under how many different headlines?
Meet-An-Inmate.Com: The Top Most Beautiful Women Behind Bars (PICTURES)
How long will this run?

And another:
Lion Tries To Eat Zebra-Striped Toddler At Oregon Zoo (VIDEO)
and in another spot on the page
Lion Tries To Eat Zebra-Striped Toddler At Oregon Zoo (VIDEO)
next day or two days later
Lion Thinks Little Baby Is a Zebra
and
Lion Tries To Eat Zebra-Striped Toddler At Oregon Zoo (VIDEO)

and one more:
Soldier's Wife Saw Bullet Hole During His Death On Skype
followed by
Wife Witnesses Capt.'s Death Over Skype?
and the next day
Twist After Wife Witnessed Unthinkable

Go online sometime. Get an AOL email address, check it three or four times a day and in between try to read some of the news that you and your staff present to the public. I guarantee you will want to change some things.

You'll have some free time because the stuff your pages load in the background slows everything down. It often takes a long time to check email and I have a fast provider.

Nibble on some stories, digest a headline or two and see if they match up. Tell me if you really think most of the news on AOL is "engaging" (your word Mr. Katz).

I doubt seriously AOL is driving social conversation. Facebook, Twitter and Pinterest are driving social conversation. AOL is the EMO with the black hair, black clothes, dark attitude and the tie-tac through his/her lower lip standing in the doorway behind the big recycling bin, watching.

Your "off the charts social engagement" comprises mainly folks with little real intellect, a smattering of small-minded haters who rarely have the courage to say exactly what they mean even if they rarely have the ability to say exactly what they mean and a short percentage of people with smarts, knowledge and a voice.

I can't believe you have 17 editors working for you at AOL. Someone is slacking over at AOL. Very few of your staff seem to be versed in AP style and even fewer have a knack for crafting true, clever and catchy headlines without resorting to cheap theatrics.

I recently came across a headline using the word get's as in the car get's 25 miles to the gallon. No kidding. I should have copied it like these others I'm sending.

There are also the more than occasional misuse of words such as then for than, four for fore, prostate for prostrate, their for there, it's for its, and over instead of more than, but I don't think most people understand or differentiate the fine points of the latter or is it ladder? Sorry, only kidding.

When you say "We're pioneering new forms of journalism for a huge audience ...." What do you mean? Is it just a phrase to mean you are loosening journalistic standards? Are you referring to AOL's promiscuous use of video and the ever-shrinking text files which provide even greater lack of depth in a story? I guess readers want merely a brief sentence and a quick sound/video bite.

Appetites and diets seem to have switched from the meat and potatoes newsfeed to the quick sweet glazes and toppings. And that is not your fault. But you don't have to play into it, do you? Maybe you do.

I worked for a newspaper for ten years and we wouldn't have been caught dead putting on our pages some of the stuff which routinely appears on yours.

Newspaper journalism is a different beast than online journalism and it's a far cry from broadcast journalism but it shouldn't be. We looked down on the tv guys - they were the whores in the business, though some newspaper folks could be a two-bit trick.

Journalistic integrity is journalistic integrity regardless of its content and presentation to the public.

Neil, with all the resources at your command I think AOL could be much, much better. I know it could. It certainly could be more interesting, with a touch less smoke and mirrors and black capes, and with more honesty. It could, I believe, be a lot more engaging without drawing itself into the fray and putting itself into its own stories which some of your writers are wont to do.

I hope this wasn't too negative. It did start badly in my mind. I sometimes get annoyed with AOL and its presentation while, I fear, folks at AOL probably think people do not notice.

I notice. I wish I could do something about it.

Respectfully,

Ellis Neel
Ellisx@Aol.com

AOL Launches 'Editions' iPad App

-- On August 2, 2011, AOL launched a new iPad app called 'Editions.' It's a free daily digital 'magazine' for iPad that offers a reading experience customized for each user.

Editions monitors your usage of the app and takes all of your actions into account, from opening an article to adding a new interest, to help learn what you do and don't like. The result is a service that is personalized for each user.

Every morning, an Editions user receives a download that is designed to look like a magazine, with a table of contents, stories, images, professional layouts, and page turning capability. The final page of each daily Edition features a daily horoscope.

"Our goal for Editions was to take the best of the online and offline reading experiences and fuse them into a single, sleek magazine unlike anything else that exists today," said David Temkin, Head of Mobile, AOL. "By combining custom features with technology that learns about you as you use it, Editions delivers a magazine every day that’s full of the things you care about most."

Users an edit each section of Editions to include favorite companies, teams, celebrities, and news sources. Also included are localized news and weather, local news sources, and the ability to save an article for later, or share it by email, Facebook or Twitter.

The Editions by AOL App is available for free from the App Store on iPad.

-- April 12, 2011 -- Nathan Coyle is now general manager at AOL's Cambio.com. He was previously business development agent at Creative Artists Agency.

AOL Confirms Tim Stevens as New Engadget Editor in Chief

-- On April 4, 2011, the Wall Street Journal's All Things Digital reported on the new hire:

"AOL has confirmed that Tim Stevens will replace Josh Topolsky as editor in chief of Engadget.

Stevens has been working at the large tech gadget news and reviews site since 2007, most recently as its automotive editor.

Unusually, he was a part-timer at Engadget until a few months ago and lives several hours north of New York City, where AOL has its HQ. The company said Stevens will commute as necessary."

Get the full story.

Another Editor Leaves Engadget

-- On March 31, 2011, the New York Observer's Betabeat reported on the departure of editor Chris Ziegler, senior mobile editor. Two weeks earlier, it was reported that editor in chief Josh Topolsky and managing editor Nilay Patel had left Engagdget, a tech web site owned by America Online (AOL).

"Engadget, the East Coast half of AOL's tech blogging empire, has seen a number of editorial exits in the past month. Add Chris Ziegler, senior mobile editor to the list. He penned his personal farewell blog post, a pre-requisite for departing the site, yesterday.

"I won't pretend that I've been thrilled with every move Aol has made since I've been here - but once again, I'm not leaving because I'm being indoctrinated into "The Aol Way" or because I've been told what to write or how to think by some dark force above Josh [Topolsky]," wrote Ziegler.

Get the full story.