---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-262922"
form_type: "8-K"
ticker: "VZ"
cik: "0000732712"
company_name: "VERIZON COMMUNICATIONS INC"
filed_at: "2021-09-01T23:59:59+00:00"
generated_at: "2026-06-29T06:35:40.641201+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Verizon closes $4.25B sale of Media Group; EVP Gowrappan exits

## Summary
- Sale of Verizon Media Group (Oath Inc. and Verizon Media Netherlands B.V.) closed on Sept 1, 2021.
- Consideration: ~$4.25B cash, $750M in non-convertible preferred units, and 10% of common units of buyer College Parent, L.P.
- Guru Gowrappan ceased as EVP and Group CEO - Verizon Media upon completion of the sale.

## SEC filing metadata
- accession: 0001193125-21-262922
- form_type: 8-K
- ticker: VZ
- cik: 0000732712
- company_name: VERIZON COMMUNICATIONS INC
- filed_at: 2021-09-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/732712/000119312521262922/0001193125-21-262922-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/732712/000119312521262922/d198679d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-262922
- JSON: https://secwatch.observer/filing/0001193125-21-262922.json
- Plain text: https://secwatch.observer/filing/0001193125-21-262922.txt

## Key facts
- Executive change
  Guru Gowrappan resigned as Executive Vice President and Group CEO - Verizon Media at VERIZON COMMUNICATIONS INC.
  - Action: resigned
  - Role: Executive Vice President and Group CEO - Verizon Media
  source text: Mr. Guru Gowrappan ceased to serve in his capacity as an executive officer of Verizon Communications Inc. (“Verizon”) with the title of Executive Vice President and Group CEO - Verizon Media.
  evidence_url: https://www.sec.gov/Archives/edgar/data/732712/000119312521262922/0001193125-21-262922-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.