Oath CEO Tim Armstrong is reportedly in talks to leave the company

Tim Armstrong, the CEO of Verizon's media and advertising business, is in talks to leave the company, The Wall Street Journal's Sarah Krouse reported Friday.

Verizon decided it will integrate parts of Oath's business into the larger company, and Armstrong may leave the company as early as next month, according to The Journal.

Recently, there had been rumors that Oath was planning to spin out of Verizon. On the company's second quarter earnings call, it issued its most explicit repudiation to date of those rumors.