Telecom giant Verizon announced today that it is selling AOL, Yahoo and its Verizon Media assets, including its advertising technology business to New York-based private equity firm Apollo Global Management for $5 billion. LionTree LLC, a global investment firm focused on media and tech, was lead advisor on the deal and will join Apollo as an investor. The new company will keep the Yahoo name and will be led by Guru Gowrappan, the current CEO of Verizon Media Group. Verizon plans to keep a 10 percent stake in the overall business. Continue reading Verizon Is Selling AOL, Yahoo and Its Media Brands to Apollo

Snapchat, rebranded Snap Inc. to acknowledge the company is now more than an app, debuted its first hardware product. Spectacles one-size-fits-all sunglasses in black, teal or coral can record up to 10 seconds of video from the wearer’s first-person point of view. The user is able to record video hands-free, and the camera, which relies on a 115-degree-angle lens, also gives a wider image that more closely mimics our natural field of view, even to the point of being circular. Spectacles is priced at $129.99. Continue reading Snapchat Rebrands Itself, New Spectacles Record POV Video