Tim Armstrong

Report: Armstrong will head Verizon bid for Yahoo

Verizon Communications has reportedly tapped Tim Armstrong, chief executive of its AOL unit, to head a possible bid for Yahoo’s assets. Verizon has expressed interest in the troubled firm for months as Yahoo CEO Marissa Mayer has announced staff cuts and expressed on-and-off interest in selling the company, in whole or part. Crain’s NY, quoting unidentified people with knowledge of Verizon’s internal moves, said Armstrong has known Mayer for years, when both were Google executives…