Verizon's CEO just walked back on the company's original premise for buying Yahoo
Verizon CEO Hans Vestberg. Photo: Steven Ferdman/Getty Images
- Verizon CEO Hans Vestberg says the telecom company's media unit will have to make money without leveraging data from the company's wireless and wireline subscribers.
- Vestberg says the former AOL and Yahoo businesses "need to survive on their merits."
Verizon CEO Hans Vestberg isn't ready to ditch the telecom company's media unit, but he tells Axios it will have to make money without leveraging data from the company's wireless and wireline subscribers.
Why it matters: This is a sharp departure from the company's original premise for buying Yahoo and AOL: that Verizon could use its detailed data on subscribers to take on Google and Facebook, which together dominate digital advertising.
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