Partnerships / Acquisitions

AOL + Yahoo = Oath

Verizon has announced that once its acquisition of Yahoo is complete and it merges Yahoo with AOL, the newly created division will get a new name: Oath.

According to Business Insider, AOL CEO Tim Armstrong confirmed the news, posting on his Twitter account: “Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.”

It was announced in July that Verizon would acquire Yahoo’s core internet business — including its search, mail, content and ad-tech businesses — for around $4.8 billion in cash. Yahoo will then merge with Verizon’s AOL unit.

The sections of Yahoo that Verizon is not buying, which includes Yahoo’s 15 percent of Chinese retail giant Alibaba and a part of Yahoo Japan, would continue under the name Altaba.

The deal is expected to close in the second quarter of 2017, possibly on or before April 24. After that date, the parties can seek a three-month extension, or there is a chance that either might opt to terminate the deal.

Verizon has already stated that there will be a major branding campaign coming soon. “In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital,” said an AOL spokeswoman.

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