Buzzfeed and Verizon plan to slash hundreds of jobs in grim day for digital media January 24, 2019 Online publishers Buzzfeed and Verizon Media have announced plans to cut hundreds of staff members as digital media faces a squeeze on advertising revenues. Buzzfeed said it plans to reduce its global headcount by 15 per cent, believed to amount to roughly 200 members of staff, as it looks to cut costs. Read more: Murdoch eyes [...]
Daily Mail maintains guidance as digital revenues help offset print decline January 24, 2019 The Daily Mail’s parent company today said it maintains its full-year guidance as revenue rises for its online and TV offerings offset a decline in print sales. Daily Mail and General Trust (DMGT) said reported revenue growth slipped two per cent in the three months to the end of December, impacted by disposals in its [...]
US telecoms company Verizon announces $4.6bn writedown on Oath business December 11, 2018 US telecoms giant Verizon Communications will announce a writedown of up to $6.7bn (£5.35bn) in the fourth quarter on the value of its Oath media business and redundancy programme costs. Oath, which was formed after the merger of AOL and Yahoo in 2017, has seen a deterioration in sales and revenue leading to a $4.6bn [...]
AOL share price rockets on $4.4bn Verizon deal May 12, 2015 Verizon is buying the sprawling online company AOL in a deal worth $4.4bn (£2.8bn). The US telecoms company has made an offer of $50 a share – a premium of 17.4 per cent on AOL's closing share price yesterday of $42.59. Shares in AOL, the owner of online publications such as Huffington Post and Techcrunch [...]
Verizon suprise on the upside as profits fall April 21, 2015 FIRST quarter results at Verizon Communications beat analyst expectations yesterday despite seeing a fall in pre-tax profits. Despite the drop in profits, total revenues for the company rose to $32bn (£21.4bn) from $30.82bn during the first quarter compared to the same period last year. This was partly driven by the American communications company adding a [...]
Verizon reports strong growth while IBM falls January 21, 2014 VERIZON reported strong fourth quarter growth in its Verizon Wireless joint venture yesterday while IBM, the world’s largest technology services company, reported its seventh straight quarterly decline as demand for its services continues to fall. Verizon’s shares fell 1.3 per cent yesterday to $47.7, which analysts attributed to profit taking ahead of its $130bn buyout [...]
Vodafone tie-up pays for Verizon as it prepares to take full control October 17, 2013 VERIZON Communications yesterday posted stronger- than-expected third-quarter earnings and revenue driven by wireless growth, sending its shares upwards. While wireless customer growth was slightly below Wall Street estimates, its Verizon Wireless venture with Vodafone Group posted good profit and revenue growth as customers spent more on data services.Verizon has agreed to buy out Vodafone’s 45 [...]
Verizon borrows $49,000,000,000 in just one day September 11, 2013 TELECOMS giant Verizon borrowed a record $49bn (£31bn) from the bond markets yesterday – an astonishing sum that is larger than the economies of more than 90 countries. The debt deal, which was so large that it took even Wall Street by surprise, will be used to finance the company’s $130bn purchase of Vodafone’s [...]
Verizon plans bond to finance Vodafone deal September 8, 2013 VERIZON could begin marketing the sale of up to $25bn (£16bn) in new bonds this week as part of its efforts to finance the purchase of Vodafone’s stake in Verizon Wireless. Verizon last week agreed to buy Vodafone’s 45 per cent stake in Verizon Wireless for $130bn, half of which will be financed by $61bn [...]
Vodafone isn’t avoiding UK tax on the sale of its stake in Verizon Wireless September 3, 2013 THE screams of rage, as the statists realise they’re not going to get any money from the sale of Vodafone’s stake in Verizon Wireless, have become deafening. We’ve even seen UKUncut insist quite seriously that £84bn of tax is being avoided (£84bn is the total transaction size, not the profit or the tax). But the [...]