Verizon to take 'Oath' as new company to run Yahoo, AOL
02:00, Apr 5, 2017
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One incredibly bland corporate name.
Oath won't be a consumer brand, though Verizon will tout it under a "major marketing campaign" after the company wraps up its pending acquisition of certain pieces of Yahoo. By now, AOL's CEO, Tim Armstrong, confirmed the new company's new name on his Twitter page. As Armstrong pointed out on Twitter, these and other future Oath brands engage more than a billion consumers worldwide. "#TakeTheOath. Summer 2017", the Tweet reads. With news about a new company name coming out, that option seems fairly remote at this point.
An AOL spokeswoman later added that this summer, "one of the most disruptive brand companies in digital" will be launched.
The new company will officially exist once the $4.5 billion acquisition of Yahoo by Verizon is completed, The Washington Postreports. The company was an early adopter of popular internet service like communities, news, blogging and photo-sharing, but it failed to deliver. What in tarnation? Is the combination of Yahoo and AOL some kind of demonic telecom funded cult? If it's up to me, I will not be taking any "oaths", thank you very much.
Verizon's offer to purchase the company in a multi-billion dollar buyout was seen as a lifesaver, a way for Yahoo to recover and allow for a restructuring of management.
The Yahoo sale, which had been jeopardized by revelations late a year ago about the company's two massive data breaches, is expected to close between April and June. The deal, which included Yahoo's core assets, real estate assets and some intellectual property, was initially pegged at $4.80 billion. It is planning to manage Yahoo's email and few other online operations for sometimes now. An independent investigation had concluded this year in which certain senior executives at Yahoo did not properly comprehend or investigate the security breach. Yahoo's board also opted not to award Mayer her cash bonus. The remaining assets of the organization will be renamed Altaba, although it's unclear if this is a long term plan. Let us know what you think in the comments!
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