From the folder of “Telcos Fail At Everything But Selling Bandwidth”, Verizon is writing down $4.8Billion on Oath media that it acquired from Yahoo just a couple of years ago.
As a result, the Company expects to record a non-cash goodwill impairment charge of approximately $4.6 billion ($4.5 billion after-tax) in the fourth quarter of 2018. The goodwill balance of the Oath reporting unit was approximately $4.8 billion prior to the incurrence of this impairment charge.
Telcos are quasi-legendary in the ability to imagine new business built on top of their networks that last for a few years before they fail. Lets remember a few:
- Voice Messages
- Managed PBX
- Colocation / Data Center Cloud
- Managed Routed WANs
And now they dream of selling SDWAN to Enterprises ? EL-OH-EL
PS: Just imagine how much they could have improved their network with that money instead of blowing it ?
Link: Document – https://www.sec.gov/Archives/edgar/data/732712/000073271218000060/a12-118xk.htm