INTERNATIONAL - Verizon Communications said on Monday it will reorganise its business segments into Consumer, Business and Verizon Media Group/Oath.
Previously, the largest US wireless carrier’s operating structure was split between wireless and wireline, which included its Fios internet and video products.
The changes will be effective from January 1, 2019, and will “optimise the growth opportunities we see as leaders in the 5G era,” chief executive Hans Vestberg said in a statement.
The company said the new Verizon Media Group/Oath segment will be at the intersection of media, advertising and technology, and will be led by Guru Gowrappan, who was previously announced as chief executive of Oath, the digital media umbrella that includes Yahoo and AOL.
Verizon said it expects to begin reporting its financials under the new structure in the second quarter of 2019.