Yum Brands has agreed to sell its struggling Pizza Hut chain for $2.7 billion to private equity firm LongRange Capital and Yum China. This decision comes as Pizza Hut has faced significant challenges due to the rise of delivery culture, resulting in lagging sales. With this sale, Yum Brands aims to sharpen its focus on faster-growing brands like Taco Bell and KFC while divesting from the underperforming pizza chain.