Verizon scrambling to unload HuffPost as losses mount [telecom]

Sep 29, 2020 2 Replies
Verizon scrambling to unload HuffPost as losses mount [telecom] open original image

By Alexandra Steigrad



Verizon has been quietly scrambling to unload HuffPost as it grapples with continued losses at the left-leaning news and culture website, The Post has learned.



The telecom giant - which acquired the site formerly known as the Huffington Post as part of its $4.4 billion purchase of AOL in 2015 - has approached multiple digital-media companies during the past few months in a bid to get the property off its books as losses accelerate due to the coronavirus, according to sources close to the situation.



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I can't help but wonder.... Why is a telecom company dabling in journalism? It is not of their core business. As Warren Buffet would say, it is a distraction that should be struck from the list of goals.

What else non-essential junk is Verizon holding? Grocery store chains? Gas stations? Meat packaging plants?

Jeff

You appear to be way behind the times. Verizon is one of six companies that control 90% of all communications industries worldwide -- not only telecom but the Internet, radio and television, book and music publishing, movies both in theaters and online, and newspapers too. Why do you think "cancel culture" is managing to silence so many people?

Add to those six, Google, Facebook, and Twitter, and Mastercard and Visa, and you've got a cartel with a scary level of ability to punish people for disagreeing with the party line. That ability needs to go away.

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