The contraction continues in Verizon’s media operations. The telecom giant informed employees that it planned to cut about 800 jobs, or 7% of the workforce, in the media and advertising unit formerly branded Oath. The division, which houses such Web 1.0 names as AOL, Yahoo and HuffPost, once had grand ambitions of…

Verizon’s distressed Oath unit, home to such Web 1.0 media operations as Yahoo, AOL and HuffPost, is bleeding badly enough that the company plans to take a $4.6 billion charge in the fourth quarter. A voluntary separation program that will see 10,400 workers exit by June 2019 are expected to result in a severance…

EXCLUSIVE: Tribeca Film Institute, Gucci and the Oath Foundation today announced the 2018 grant recipients for the Gucci Tribeca Documentary Fund. Six feature-length films that explore social issues, especially those affecting women and girls, will receive a total of $150,000. The program, funded by Gucci with…

Verizon edged Wall Street expectations, reporting third-quarter earnings per share of $1.19, up 34% from the 89 cents it posted in the year-earlier period, or $1.22 excluding some special items. Analysts had predicted profit of $1.19 a share. Total revenue reached $32.6 billion, up nearly 3% from the third quarter of…

Tim Armstrong, CEO of Verizon’s internet content unit, Oath, is reportedly negotiating his exit from the company. The Wall Street Journal reported the talks this morning. An Oath rep did not immediately respond to Deadline’s request for comment. A former top ad sales executive at Google, Armstrong became CEO of AOL in…

Verizon reported strong second-quarter results, with adjusted earnings per share of $1.20 rising 25% over the same quarter a year ago. The quarterly numbers came in well ahead of Wall Street estimates of $1.14 a share, sending Verizon stock up 3% in morning trading. It has since fallen back to fractional gains, at…

Verizon is pulling the plug on its Go90 mobile video app and shifting distribution of its shows to Oath’s well-established digital media brands, which include Yahoo and the Huffington Post. Oath CEO Tim Armstrong telegraphed that Go90’s days were numbered when he talked about transforming it from a standalone service…

UPDATED with remarks about its interest in Fox and broader media strategy from today’s earnings call. Telecom giant Verizon said its first-quarter net income rose 32% to $4.55 billion, or $1.11 a share, in the first quarter thanks in part to benefits from federal tax reform. The results compared with $3.45 billion, or…

Verizon and A+E Networks have reached a new carriage deal which includes several content components that will see the two companies team on programming across digital and linear platforms. Like similar arrangements involving Viacom and AMC Networks with distributors such as Charter and Altice, the deal centers on…

Echoing sentiments from CBS boss Leslie Moonves yesterday, NBCUniversal’s head of advertising, Linda Yaccarino, said that no advertisers have bailed on NFL broadcasts on NBC. Nevertheless, she does believe anthem protests by players have hurt ratings. “I don’t think there’s any way to prove it, but I do think it has…

AOL Instant Messenger, the chat feature introduced by the then-dial-up ISP in the mid-1990s, is set to end its once-pioneering run on Dec. 15. Verizon acquired AOL for $4.4 billion in 2015. Its Oath media subsidiary now oversees AOL it and confirmed the move, saying the service “will always have a special place in our…

Marni Walden, Verizon executive VP and president of global media, said today she will shift into an advisory role as of December 31 and leave the company altogether in February. While not necessarily someone most Hollywood veterans know well, Walden’s purview was broad and as Verizon has matured and added media…