FILE PHOTO: A Yahoo logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. REUTERS/Eric Gaillard/File Photo
(Reuters) - Yahoo has signed a deal to sell its 20-year-old technology news website, TechCrunch, to media investment firm Regent, the companies said on Friday.
TechCrunch, a popular online platform providing news and analysis on global tech companies, startups and entrepreneurs, was among the media assets of Verizon Communications, including Yahoo.
In 2021, private equity firm Apollo Global Management acquired the media assets for $5 billion, subsequently rebranding the combined assets under the Yahoo name.
Regent has been actively expanding its tech news site portfolio, with its recent acquisition of Foundry, the parent company of leading publications such as PCWorld, Macworld, InfoWorld, CIO, and TechAdvisor.
The financial terms of the deal, which is expected to close in the coming weeks, were not disclosed.
"We believe this next chapter under Regent can help maintain TechCrunch's influence and support its continued growth," Yahoo said in a statement.
Yahoo hosts a suite of news sites, including Yahoo Finance, Yahoo Sports and Engadget, in addition to other services like Yahoo Mail and Yahoo Search.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Mohammed Safi Shamsi)
