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Verizon to incur $500 million in pre-tax costs from Yahoo deal

The expenses are related to severance payments, acquisition and integration costs

Reuters 

Verizon Communications Inc said on Thursday it expected to incur about $500 million in pre-tax expenses in the second quarter as a result of its $4.48 billion purchase of Yahoo Inc's core business. Verizon is combining Yahoo's internet assets with AOL, which it bought two years ago, to form a venture called Oath, led by AOL CEO Tim Armstrong. Oath's more than 50 brands include HuffPost, TechCrunch and Tumblr. The expenses are related to severance payments, acquisition and integration costs, Verizon, the No 1 US wireless operator, said in a regulatory ...

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First Published: Thu, June 15 2017. 21:01 IST
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