Close
Close

Published

Verizon’s Oath writedown comes on top of a pile of poor decisions

Verizon is ending the year on a bad note. Its Oath media unit has been given the writedown treatment and been rendered virtually worthless, while new CEO Hans Vestberg has been forced to slash 10,400 jobs by the end of June 2019. While workforce cuts are in most cases a necessary evil and this was frankly an inevitable outcome from Vestberg’s appointment, Verizon clearly needs a plan B if it wants to get through 2019 without being acquired. Behaving a little more like AT&T, for instance. An idea we have floated before is that Verizon might have large shareholding slices taken up by Comcast and Charter, including getting places on the board. Right now, the market capitalization of Verizon seems…

Close