Verizon says its media brand including Yahoo and AOL is essentially worthless

In other news:

The Pope is Catholic

Water is Wet

Bears Shit in the Woods

It was worthless when they bought it!

Obvious...

Can we say death by a thousant sales?

Who could have seen that coming

Why did they buy it?

In short, investors expected and wanted a media play. There's some discussion here about how comparatively, Verizon only dipped their toe in, to their benefit now:

https://www.cnbc.com/2018/12/11/verizon-made-the-right-decis...

/me gets tinfoil hat

1. Verizon buys some content producers that flop - Content will not be a profit center for Verizon.

2. Other media companies buy content producers that don't flop (as much).

3. Verizon's General Council (Ajit Pai) becomes head of FCC.

4. FCC pushes to roll back regulations allowing communication providers to charge premiums for content access.

Is it really as bad as it looks?