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.
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