By now you may have heard that Verizon is acquiring Yahoo but what’s new is that when Verizon merges Yahoo (search, ad business, mail and other internet content) with AOL which it acquired back in 2015, the new name of that company will be Oath.
This means that Yahoo will be integrated into Verizon’s AOL unit under Marni Walden, the executive vice president and president of product innovation and new businesses. What this doesn’t mean is that Verizon will buy Yahoo’s 15 percent stake in Chinese retail giant Alibaba.
AOL which is known for being one of the pioneers of the internet era is expanding its portfolio by brining on board Yahoo’s huge online content base. Meanwhile the other part of Yahoo that is not being acquired by Verizon will now be renamed Altaba and the current Yahoo CEO Marissa Mayer will not be part of any of the new companies.
Verizon had made an initial $4.8b bid for Yahoo but after a series of security breach reports by Yahoo, Verizon eventually requested that $350m be knocked off the initial value to cater for the consequences of the breaches.
Meanwhile the new name Oath was a subject of Twitter jokes recently but I guess we will be hearing more about the new company this summer.