Verizon writes off most of Yahoo purchase

Verizon writes off most of Yahoo purchase

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2017:

The closing of the deal, which Verizon first announced in July for a purchase price of $4.83 billion, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed last year.

Source: Verizon sought $925 million discount for Yahoo merger, got $350 million

Verizon folded Yahoo into a new business unit it named Oath.

2018:

As a result, the Company expects to record a non-cash goodwill impairment charge of approximately $4.6 billion ($4.5 billion after-tax) in the fourth quarter of 2018. The goodwill balance of the Oath reporting unit was approximately $4.8 billion prior to the incurrence of this impairment charge.

SEC Filing Item 8.01 – Other Events

Basically, Verizon has written off nearly the entire purchase price of Yahoo, as a loss.

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