- Apollo Global Management Inc (NYSE:APO) is discussing with sports betting companies to merge their assets with Yahoo Sports, CNBC reports.
- Apollo acquired Yahoo from Verizon Communications Inc (NYSE:VZ) for $5 billion in 2021.
- Yahoo has spoken with is Australia-based Pointsbet Holdings Ltd (OTC: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.
