Business Insider reported earlier Monday that AOL and Yahoo will be part of Oath, with a branding campaign expected in the coming weeks, though it's unclear whether the former companies' names would live on.
Verizon's acquisition of Yahoo's assets doesn't come cheap.
There's some logic to the name for a merged Yahoo and AOL, even if it sounds more than a little ridiculous.
In July of a year ago, Verizon announced that it will acquire the core internet business of Yahoo for around $4.8 billion. The Yahoo and AOL brands are expected to survive, although Verizon says it won't provide any details about its plans for Oath until this summer.
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Perhaps what is more surprising is the name of said pro forma company, which according to Kara Swisher will be called "Oath", and will be headed by Armstrong. The publication did try to get comment on the specific changes, but Yahoo declined to comment.
It had to slash the price after discovering that two separate hacking attacks had stolen personal information from more than 1billion user accounts. But the most important brands we have are things like Yahoo!
In a deal that was announced in July, Verizon will acquire Yahoo's core internet business for about $4.8 billion in cash.
The business units from Yahoo which Verizon is not buying, such as 15% of Chinese retailer, Alibaba, and part of Yahoo in Japan will now be known by the name of Altaba.
Under the terms of the revised acquisition agreement, Yahoo would continue to cover the cost of a US Securities and Exchange Commission probe into the breaches, as well as shareholder lawsuits. Mayer will step down from the board of that company once the sale is complete. "Over time, if there's brands we can create around Oath, we would think about that".