Verizon Is Moving Yahoo and AOL Under the New Name "Oath"

Tuesday, April 4, 2017

Verizon Is Moving Yahoo and AOL Under the New Name "Oath"

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Verizon plans to house two giants of the early days of the internet, AOL and Yahoo, under the new name Oath.

Tim Armstrong, the head of Verizon's AOL division, announced Oath in a Twitter post on Monday afternoon.

The brand will apply to AOL's 25+ media and technology brands - the digital media division of Verizon after it buys Yahoo's internet assets for $4.48 billion, a deal that is expected to close by the end of June.

Verizon says it won't provide any details about its plans for Oath until this summer.

The remaining parts of Yahoo, which includes its 15% stake in Alibaba and Yahoo Japan, will be called Altaba.

Yahoo originally agreed to sell its online operations to Verizon for $4.8 billion after years of unsuccessful attempts to boosts its revenue. It had to slash the price after discovering that two separate hacking attacks had stolen personal information from more than 1 billion user accounts.