Verizon takes $4.6-billion charge on Oath media assets [Toronto Globe and Mail (Ontario, Canada)]
Verizon Communications Inc. (VZ)
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Source: Toronto Globe and Mail
Sheila Dang and Sonam Rai Reuters Published December 11, 2018 Updated December 11, 2018 For Subscribers Comments Verizon Communications Inc said Tuesday it will take a $4.6 billion charge related to its Oath media assets - Yahoo and AOL - and a severance charge of up to $2.1 billion for voluntary buyouts, in the fourth quarter. The largest U.S. wireless carrier by subscribers said in a filing that competition pressures will continue for Oath, which was formed after Verizon bought Yahoo and AOL. The company previously said it did not expect Oath to meet its revenue goals. Verizon had said that about 10,400 employees will leave the company by the middle of next year as part of its voluntary separation program. The employees will get a salary of up to 60 weeks, bonus and benefits, depending on their length of service. Story continues below advertisement
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