Verizon is exploring selling its media assets, including Yahoo and AOL, a sign the telecom giant may be looking to exit the failing industry for digital media.
That’s according to a Wall Street Journal report on Wednesday, that cited sources familiar with the matter.
Yahoo and AOL are the two largest brands under Verizon media.
The company also owns publishers HuffPost, Techcrunch, Engadget, and the social media site Tumblr.
Verizon paid more than $9 billion total for AOL in 2015 and Yahoo in 2017.
The two media companies were popular during the age of desktop PCs, but Verizon aimed to shift its audience to mobile.
Drastic measures like cutting staff and costs failed to drive profits enough and broadly, the digital media business fell short of its annual revenue goal in 2020.
The Wall Street Journal report estimated Verizon’s media assets are valued between $4 and $5 billion.