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Report: Head of Verizon's AOL, Yahoo in talks to depart

The Wall Street Journal is reporting that Verizon's media and advertising chief, Tim Armstrong, is in talks to leave.

Armstrong came to Verizon as part of its purchase of AOL in 2015 and began overseeing Yahoo as well after Verizon bought it in 2017. He was tasked with growing Verizon's ad business in a challenge to Facebook and Google, but that business has been struggling and remains one of Verizon's less profitable divisions.

Armstrong was one of Google's early employees and was key to developing its digital ad business before moving to AOL in 2009.

The Journal report cites unnamed people familiar with the talks. Verizon spokesman Bob Varettoni says Verizon doesn't comment on rumors and speculation.

Telecoms have been buying content makers to diversify as the wireless industry slows.

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