(Reuters) -Verizon Communications Inc is getting rid of its media businesses that include iconic brands Yahoo and AOL for $5 billion, ending an expensive and unsuccessful run in the media and advertising world.
Despite spending more than a decade and billions of dollars acquiring a stable of internet brands, the New York-based telecom company has struggled to make headway in a highly competitive internet advertising space dominated by Facebook Inc and Google and has focused its resources on developing 5G.
Already a subscriber? Log in
The Star 6.6 DEAL: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
