Escape Collective, a member-funded content platform, reflects on its first year, emphasizing its lean team and minimal overhead costs. The platform has focused on producing a high volume of quality content, including podcasts, original reporting, and essays, while also investing in travel for on-the-ground coverage of key events. Although not yet profitable, the company is confident in its audience and business model, allowing for future hires and expansion into new content areas such as mountain biking and gravel. Additionally, the platform is adjusting its social media strategy to increase visibility and attract new members.
Verizon Communications will incur a $5.8 billion impairment charge in the fourth quarter due to a five-year planning review of its unit Verizon Business Group, leading to lowered financial projections. The Business unit, which provides wireless and wireline services, has been under pressure from competition and economic uncertainty, resulting in a goodwill balance of $1.7 billion as of Dec. 31. Verizon is set to report its fourth-quarter results on Jan. 23.
Verizon will take a $5.8 billion write-down in the fourth quarter, primarily due to the declining value of its wireline business, and has revised its financial projections for its Business unit. The wireline business has been facing pressure from strong competition, an uncertain economy, and a shift to wireless services. Verizon's shares were down more than 1% following the announcement, and the company is set to report its fourth-quarter results on Jan. 23.
