Verizon combines Yahoo and AOL to form a new division called Oath
05 April 2017, 02:02 | Myrtle Hill
Look there's just not that many
AOL CEO Tim Armstrong shed a bit more light on Oath, the new business-facing brand that will encompass Verizon's mix of consumer digital brands, including AOL, Yahoo, TechCrunch, The Huffington Post, and Tumblr, among others. The company plans to merge the newly acquired Yahoo business with AOL and call it Oath.
One has to wonder why those suits came up with a new name for Yahoo.
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The Verizon Communications is said to create this new company Oath after the completion of the acquisition of Yahoo and AOL.
What do you think of the Oath name for the merged version of Yahoo and AOL? Overall, Oath will begin operations with more than 20 brands under them. A rep for Yahoo declined to comment beyond a statement from Mayer when the Verizon deal was first announced past year.
Verizon's offer to purchase the company in a multi-billion dollar buyout was seen as a lifesaver, a way for Yahoo to recover and allow for a restructuring of management. The acquisition of Yahoo hasn't exactly been smooth sailing with multiple revelations of state-sponsored hacking that compromised billions of user accounts - Verizon has since won a $350 million discount for Yahoo.
Yahoo previously announced that the parts of the business Verizon is not acquiring - mostly Yahoo's remaining investment in Alibaba Group Holding Ltd. Then there also are the respective messaging services - AOL Messenger and Yahoo Messenger. Mayer will step down from the board of that company once the sale is complete.
The Kremlin denied any official Russian involvement in cybercrimes after the United States indicted two FSB intelligence agents over cyber attacks on Yahoo that compromised 500 million accounts. So we have a time table here suggesting the Oath launch will be in the next few months.
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