Verizon Communications Inc. is booking a $4.5 billion accounting charge related to its Oath media business, a sign its bet on high-profile internet properties and content several years ago hasn’t worked out as expected. Verizon said in a securities filing Tuesday it expects to record an after-tax noncash impairment of about $4.5 billion against Oath’s goodwill, canceling out the majority of the current goodwill balance. Goodwill measures the difference between how much a company paid to buy another firm and the value of the...

Source: Wall Street Journal December 11, 2018 14:33 UTC