Company Of The Day: Verizon
What?
Last week, Verizon (NYSE:VZ) announced plans to divest its Yahoo and AOL digital media businesses, as it looks to focus on its core wireless business. The assets will be sold to Apollo Global Management for about $5 billion.
Why?
- With Mid-Band 5G Gaining Momentum, What To Expect From Verizon’s Q1 Results?
- Up 8% Year To Date As 5G Gains Traction, What’s Next For Verizon Stock?
- Up 25% Over The Last Three Months, Will Verizon See Further Gains Following Q4 Results?
- Down 50% From Covid Highs, Will Verizon Stock Recover Post Q3 Results?
- Will Verizon Stock Recover To Its Pre-Inflation Shock Highs?
- Verizon Stock Has Over 60% Upside If It Recovers To Its Pre-Inflation Shock Highs
Verizon’s media and advertising businesses have faced challenges scaling up amid competition from Internet behemoths such as Facebook and Alphabet. Verizon has taken write-downs of over $4 billion in its media arm over the last few years.
So What?
The move will allow Verizon to free up resources to focus on expanding its 5G network. In March, Verizon emerged as the biggest winner of the C-band spectrum auction, agreeing to pay over $50 billion for 5G airwaves.
See Our Complete Analysis For Verizon
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