Verizon Communications Inc. cut the value of its AOL and Yahoo acquisitions by $4.6 billion in a public filing.
The write-down is another indication of heavy competition in digital advertising, which is dominated by Google and Facebook.
The move erased about half of the value of Oath, Verizon’s content business.
Oath’s brands include: AOL, Yahoo, HuffPost, TechCrunch, Flurry, Tumblr, Engadget, Autoblog, Makers, Kanvas, Build, Ryot and MSN.
Ad Verification Company Integral Ad Science Taps Former Yahoo Executive as CEO (The Wall Street Journal)
AOL Takes Over Majority of Microsoft’s Ad Business, Swaps Google Search For Bing (The Wall Street Journal)
Oath isn’t just a terrible name — it’s going to be a nightmare ad-tracking machine (The Verge)
House Votes To Allow Internet Service Providers To Sell, Share Your Personal Information (Consumer Reports)