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Published: Wed, April 05, 2017
Economy | By Melissa Porter

Verizon will call AOL and Yahoo 'Oath' after merger

Verizon will call AOL and Yahoo 'Oath' after merger

Various data breaches reported by Yahoo have compelled Verizon to rethink their decision, but they ultimately chose to buy the internet division of the struggling veteran.

Well, the latest disaster of a media brand name is at least a real word - albeit one that appears to have been selected at random from a dictionary.

Oath will oversee Yahoo and AOL after the deal is completed. AOL CEO Tim Armstrong is also likely to play a major role in running the new company.

According to a transcript from CNBC, Armstrong would only say that "we're working with Marissa and her team to basically get the company completely set up to operate probably by the end of Q2. #TakeTheOath. Summer 2017", Armstrong wrote on Twitter. While an AOL spokesperson neither confirmed nor denied the new name, she did tell us to watch for the "launching" of the new company.

Then, along came more made up words-as-company-names: "Tegna" and "Tronc". It depends on how the new company Oath will handle the situation.

AOL declined to comment on the Recode report.

The Yahoo Verizon deal is supposed to close in the second quarter of 2017, perhaps on or before April 24. "It's important to me to see Yahoo into its next chapter".

Verizon first announced its plans to acquire Yahoo in July a year ago. Verizon's goal was to use Yahoo's billion users to build an online advertising powerhouse to rival Google and Facebook. This $4.48 billion transaction includes Yahoo's search, content, ad-tech, and mail-related businesses. However, after two very large hacks affected about 1 billion user accounts and stole personal information from them, the company chose to cut the price. However, after Yahoo revealed that over a billion user accounts had certain details compromised in two separate cyberattacks launched against the company, Verizon recently decreased its offered purchase price by $350 million.

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