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Verizon just admitted that the value of its media brand, Oath, is essentially worthless.Verizon announced Tuesday that it would take a .6 billion writedown on its the media unit, which includes Yahoo and AOL.Oath's brand value is now worth just 0 million, according to Verizon. That's a stunning decrease in value since it formed in 2017. Verizon said Oath's brand was worth .8 billion when it last accounted for the company's goodwill valuation.Verizon snapped up a number of legacy media brands in recent years to create Oath. It bought Yahoo for .5 billion in 2017 and AOL, which owns HuffPost, for .4 billion in 2015.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.The telecommunications giant said the integration of Yahoo and AOL didn't meet expectations.Oath "has experienced increased competitive and market pressures throughout 2018 that have resulted in lower than expected revenues and earnings," according to a filing with the SEC Tuesday. Facebook, Google and Amazon are sucking up ad dollars, forcing publishers to search for other streams for revenue.The Verizon media unit's poor performance led the company to make "unfavorable adjustments to Oath's financial projections" for the next five years.Verizon plans to focus more on wireless technology and less on content and distribution.This summer, Verizon replaced CEO Lowell McAdam with Hans Vestberg, the telecom company's former chief technology officer.In September, Oath CEO Tim Armstrong left. He was a driving force behind Verizon's media acquisitions. Armstrong was replaced by K. Guru Gowrappan, Oath's president and former chief operating officer.Verizon announced Monday that 10,400 management employees had accepted voluntary buyout deals, out of 44,000 who were eligible. The buyouts are part of a plan to cut costs and shift investments into wireless and 5G. 1942

VALLEY CENTER, Calif. (KGTV) - Family members call a 12-year-old girl's survival after a small plane crash in Valley Center Sunday - a "miracle.""Racquel is always on our mind, and we are hopeful," said Roxana McInerny.A smiling photo of her niece Raquel Contreras was taken moments before her uncle Peter Bierle, a seasoned pilot, took her up in his single-engine, experimental aircraft, early Sunday evening. In the flight plan was a special flyover."She wanted to fly over her best friend's house and see if she could shout 'Happy Birthday!' and wish her a happy birthday," said McInerny. McInerny says about 30 minutes into the flight, they reached that friend's home along Palomar Vista Drive. Witnesses reported the plane circling the home and the sound of an engine sputtering, before the plane took a nose dive into the yard.Bierle, 57, died at the scene. Raquel was badly injured. Dozens of neighbors ran to the plane."She was stuck in some debris. They had to cut the seat belts away, I believe, to get her out of the plane," said McInerny.Raquel was rushed to the hospital with fractures to her skull, sternum and hand, also suffering internal bleeding, a brain bleed and spinal injuries. Raquel is now in stable condition in the ICU, conscious and will survive, but the long-term impact of her injuries remain unknown.Still, McInerny is beyond thankful."It's a miracle to think she has survived that's she's alive and recovering. We are forever grateful to those who helped her and who are helping her now," said McInerny.A Gofundme campaign has been set up to help the family with expenses. 1611

U.S. Senate candidate Roy Moore published an open letter to Sean Hannity on Wednesday night pushing back against allegations of sexual abuse that have placed his campaign at the center of a national firestorm and prompted prominent members of the Republican Party to call on Moore to withdraw from the race.In the letter, which came one night after Hannity said he would give Moore 24 hours to explain inconsistencies in how he has addressed the allegations before calling on him to step aside in the race, Moore suggested he was the victim of a political hit job."I am suffering the same treatment other Republicans have had to endure," Moore wrote Hannity.Moore faces accusations from multiple women that he pursued sexual relationships with them -- and in two cases engaged in sexual assault -- while they were between 14 and 18 years old and he was in his mid-30s.Moore denied dating underage girls, but only specifically addressed allegations from two of the women. He said "at the direction of counsel" he "cannot comment further."Moore said in his letter to Hannity that he was "in the process of investigating" what he characterized as "false allegations."On his program Tuesday night, Hannity demanded an explanation for a signature in a yearbook that appeared to have come from Moore. Despite Beverly Young Nelson -- one of the woman who accused him of sexual misconduct -- producing an old yearbook she said bore his signature, the embattled Senate candidate claimed he did not even know her."My signature on the order of dismissal in the divorce case was annotated with the letters 'D.A.,' representing the initials of my court assistant," Moore wrote Hannity. "Curiously the supposed yearbook inscription is also followed by the same initials—'D.A.' But at that time I was Deputy District Attorney, not district attorney."Moore added that he believed the "initials as well as the date under the signature block and the printed name of the restaurant are written in a style inconsistent with the rest of the yearbook inscription."The support of Hannity and other conservative heavyweights is crucial for Moore as he faces intense controversy. Thus far, Moore has responded to the allegations against him largely by dismissing them as supposed "fake news." If Hannity were to turn on him, it would signal to Republican voters in Alabama that there is merit to the allegations and that the reports in the media are not a political smear job as Moore has framed it.Hannity responded to Moore's letter at the end of his Wednesday night program and said that the allegations against Moore "are beyond disturbing and serious."But Hannity declined to drop his support for Moore, suggesting additional time and information is needed to render a decision. He ended his television show saying the decision ultimately lies with the people of Alabama and should not be decided by him or other conservative or Republican leaders."I am very confident that when everything comes out, they will make the best decision for their state," he said.  3054

Two record-breaking cats are missing following a house fire in Farmington Hills, Michigan. The metro Detroit family owns the world's tallest cat and the cat with the world's longest tail. The animals are both 2 years old. RELATED:  254

Turns out all that pink at Kim Kardashian West's baby shower was a major hint.The reality TV star and her husband, rapper Kanye West, are expecting their third child via a surrogate.Kardashian West revealed to Ellen DeGeneres on her talk show Wednesday that the new baby is a girl and her 4-year-old daughter, North, is excited. "We had a baby shower over the weekend, and I thought, you know, I really do want to have a baby shower because I want (North) to feel that something's coming and for her to really understand it," Kardashian West said."People brought toys and gifts, and (North) was opening them all up the next day and she goes, 'Mom, since baby sister's not here, I think I need all of her toys in my room and play with them and make sure they're all OK for baby sister.' "The cosmetics mogul said they don't have a name yet for the new baby who will also join brother Saint. He turns 2 in December.Despite playing a game at the shower where she had guests write names on tiles to "see if there is something that sticks," Kardashian West admitted she and her husband are freaking out a bit that they haven't picked one."It's so hard," she said. "I do like different names, but short, easy to spell, one syllable. That's kind of my vibe."  1268