Published: Wed, April 05, 2017
Science | By Carlton Santiago

Verizon merges Yahoo and AOL to form Oath

Verizon merges Yahoo and AOL to form Oath

"We're building the world's largest portfolio of digital brands, and we wanted something that would be a B-to-B name that would connect to all the brands".

Tim Armstrong, who leads the AOL business for Verizon VZ, +0.88%, confirmed the new name Monday afternoon on Twitter; Business Insider reported the plans for the new name earlier Monday based on anonymous sources.

Why is Verizon Creating a Super-Powered Media Company?

. While it is not clear whether the Yahoo name will live on in any form, AOL C.E.O.

New corporate identities are always a tightrope-walk, and they often go awry-the Tribune Company's rebranding as Tronc, for example, or Yahoo's corporate parent becoming Altaba.

Yahoo Finance reports that after Verizon finishes the billion-dollar acquisition of Yahoo's core internet business, it will move Yahoo and AOL's media operations under a new media division.

As Verizon closes in on the deal, it has reportedly shaved at least a quarter of a billion dollars off the price after Yahoo revealed two unprecedented data breaches, impacting half a billion and one billion accounts, respectively. By the end of Q2 you will see our strategy publicly.

"Oath is a brand that will start out as a values-based brand, about connecting our values", Armstrong said.

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Other brands within Oath, a Verizon company, will include Flickr, Convertro, Autoblog, and Engaget.

How Will This Change My Yahoo Experience?

.

Verizon and Yahoo deal, first announced in July a year ago, is expected to complete sometime around April 24. To be honest, Oath Mail doesn't really have a ring to it.

What's Next for Marissa Mayer? .

With the revelations of Oath, it doesn't seem likely that Armstrong nor current Yahoo CEO Marissa Mayer will be helming the new company. "It's important for it be done well". "I love Yahoo, and I believe in all of you".

What's left over after the deal - Yahoo's holdings in Chinese e-commerce giant Alibaba and Yahoo Japan, plus a collection of patents - is to be an investment company called Altaba, Yahoo has said in regulatory filings. The deal should close by June, according to The New York Times.

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