New York (CNN Business) The former head of Verizon's ailing digital media division is set to walk away with a multimillion dollar golden parachute. Tim Armstrong left in December , around the time Verizon reported that Oath, its media arm, had an almost worthless brand value . Armstrong took home more than $30 million in stock awards, cash and other compensation in 2018, according to public filings posted Monday. Verizon VZ Armstrong, a former Google executive, headed AOL when it was snapped up byfor $4.4 billion in 2015. Verizon also spent billions to purchase Yahoo in 2017 and dubbed its combined media arm Oath, which it hoped to build up to compete with giants Facebook and Google in the online ads sector.

Source: CNN March 19, 2019 22:41 UTC