AOL

The corporate world's rush to "de-brand"

Illustration: Sarah Grillo/Axios

This week brought news from WeWork, the co-working unicorn, that it has decided to downgrade its main business to a mere subsidiary. WeWork has a famously complex corporate structure, but lift your eyes above the newly demoted WeWork to the very apex and behold — The We. (I am not making this up.)

The big picture: WeWork is not the only company to demote its flagship brand and name the holding company something silly, or worse.

Verizon CEO: Media business needs to stand on its own

Verizon CEO Hans Vestberg
Verizon CEO Hans Vestberg. Photo: Steven Ferdman/Getty Images

Verizon CEO Hans Vestberg isn't ready to ditch the telecom company's media unit, but he tells Axios it will have to make money without leveraging data from the company's wireless and wireline subscribers.

Why it matters: This is a sharp departure from the company's original premise for buying Yahoo and AOL: that Verizon could use its detailed data on subscribers to take on Google and Facebook, which together dominate digital advertising.