Sure, Verizon blew $4.6 billion on AOL and Yahoo, but at least it isn't AT&T, Verizon wrote off $4.6 billion from its AOL and Yahoo acquisitions, an admission that Oath hasn't succeeded within the broader company.
Verizon had received criticism at the time that it was too cautious around media, but staying away from big deals may have been the right move for the company.
Alex Sherman| @sherman4949
Buy the deep? SeekingAlpha desperate like a horny divorce gal, LMAO
And the Biggest Take Away From that article- “Verizon shares have gained more than 12 percent in the last 52 weeks. AT&T, on the other hand, is down 19 percent.”
AT&T has likely destroyed about half the value from its $49 billion DirecTV deal, according to Craig Moffett, an analyst at MoffettNathanson, who has covered the telecom industry for more than two decades.
And now AT&T must prove it didn't make another mistake buying Time Warner "at the top of the market," Moffett said. AT&T paid $107.50 per share for Time Warner in Oct. 2016, about a 40 percent premium to where Time Warner traded before Bloomberg News broke the story that the companies were in talks.
Oh, all AT&T has done is carry over $150B of debt when interest rates can potentially explode over the next few years. Meanwhile, T-Mobile's competitiveness has forced wireless rates down, and who knows what competitors like Google and Amazon might do in the 5G space in the next 25 years or so. What could possibly go wrong?
AT&T looking in the mirror, as Verizon just admitted that the value of its media brand, Oath, is essentially worthless, just announced Tuesday that it would take a $4.6 billion writedown on its the media unit, which includes Yahoo and AOL.
.........................That will be AT&T in few years...I LOVE IT!!!