Overview
- Bending Spoons announced a definitive agreement to acquire AOL from Yahoo, which is owned by Apollo Global Management.
- Media reports place the purchase price at roughly $1.4–$1.5 billion, though neither party disclosed terms in the announcement.
- The buyer secured a $2.8 billion debt package to fund the deal and future acquisitions, with lenders including BNP Paribas, Goldman Sachs, HSBC, J.P. Morgan, MUFG, Mizuho, Société Générale, Crédit Agricole CIB and Wells Fargo.
- Bending Spoons cites approximately 8 million daily and 30 million monthly AOL users and says it intends to invest and hold the business long term.
- The Wall Street Journal reports AOL generates more than $500 million in annual revenue and about $400 million in EBITDA.