New York (CNN Business) Verizon just admitted that the value of its media brand, Oath, is essentially worthless. Verizon ( VZ ) announced Tuesday that it would take a $4.6 billion writedown on its the media unit, which includes Yahoo and AOL. Oath's brand value is now worth just $200 million, according to Verizon. Verizon said Oath's brand was worth $4.8 billion when it last accounted for the company's goodwill valuation. With virtually no goodwill brand value, Oath's overall value (assets and goodwill) is now worth half of what it was a few years ago.

Source: CNN December 11, 2018 15:10 UTC