Apollo Looks To Merge Yahoo Sports With Betting Companies

Apollo Global Management Inc APO is discussing with sports betting companies to merge their assets with Yahoo Sports, CNBC reports.
Apollo acquired Yahoo from Verizon Communications Inc VZ for $5 billion in 2021.
Yahoo has spoken with is Australia-based Pointsbet Holdings Ltd PBTHF, which has a market valuation of about $760 million.
Apollo and Yahoo are considering merging Yahoo Sports with an existing sports betting company and could set up an eventual spin-off of Yahoo Sports. The new company would likely keep the Yahoo branding.
Yahoo was an early provider of fantasy sports tools and still has millions of players likely to be crossover candidates for legalized sports betting.
Price Action: APO shares traded higher by 3.77% at $64.73 on the last check Wednesday.

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