Apollo Global Management, the private equity firm that owns AOL, is considering selling the once-iconic internet company, according to The Wall Street Journal. A potential deal could value AOL at around $1.5 billion, though discussions remain preliminary and may not result in a sale. Apollo acquired AOL from Verizon in 2021 for $5 billion.
AOL generates about $400 million in annual EBITDA, with operations spanning internet privacy software, the AOL.com website, and its longstanding email services. The company is also preparing to retire its dial-up internet service this month, closing a chapter of online history.
The news comes as private equity firms face mounting pressure in a tougher fundraising environment. Industry fundraising has fallen nearly a third since 2021, with firms offering fee discounts and incentives to attract capital. Higher rates and slower dealmaking have left GPs holding aging assets, complicating exits and limiting liquidity.
Source: PYMNTS
