Verizon Communications is weighing a sale of Yahoo!, AOL unit

Verizon Communications Inc. is considering selling its media division, according to people familiar with the matter, as the telecommunications giant seeks to unload once high-flying dot-com brands such as Yahoo! and AOL.

Verizon Media could fetch as much as $5 billion, said the people, who asked to not be identified because the matter isn’t public. The company is talking to Apollo Global Management Inc. about a deal, they said. It couldn’t immediately be learned how a deal would be structured or if other suitors may emerge. No final decision has been made and Verizon could opt to keep the unit.