New Verizon execs say old Verizon execs made a $5 billion mistake betting on AOL and Yahoo
"Take The Blame":
Verizon announced Tuesday that it would take a $4.6 billion write-down on Oath, the media company formed by the telecommunications firm's previous leadership team from AOL and Yahoo. According to sources, CEO Hans Vestberg intends to focus on the company's wireless initiatives. Oath previously was valued at $4.8 billion. "If you are old you will remember when both AOL and Yahoo seemed as synonymous with the Internet as Facebook does today," Recode reporter Peter Kafka tweeted.