AOL released more information Tuesday about the Twitter tweet that AOL CEO Tim Armstrong released Monday, which revealed a new holding company that Verizon named Oath. While it isn't clear if the Yahoo name is going to live on, the company's internet assets will be run by Verizon's AOL division. What in tarnation? Is the combination of Yahoo and AOL some kind of demonic telecom funded cult? But Verizon's decision will make a lot of sense if it chooses to leverage the massive recognition of names like Yahoo Mail and Yahoo News.
After the completion of the acquisition of Yahoo! Inc.
Verizon's mass media company "AOL" and its newly acquired company "Yahoo" will be merged under a new brand name "Oath" in Summer 2017. (It was formerly called "RemainCo" in acquisition documents.) The filing led many outlets to erroneously report that Yahoo, the media brand, would be changing its name to Altaba. "I love Yahoo, and I believe in all of you".
It's important to note that Verizon isn't purchasing all of Yahoo's assets.
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Verizon agreed to buy Yahoo's core Internet business for $4.8 billion in July.
Yahoo had announced in September that hackers stole personal data from more than 500 million of its user accounts. Neither Yahoo nor AOL would comment to the tech site about Mayer's future.
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After the deal closes, Yahoo's cash and lucrative stakes in Asian internet companies Alibaba Group and Yahoo Japan will be controlled by another new company called Altaba. So we have a time table here suggesting the Oath launch will be in the next few months.