Verizon to take 'Oath' as new company to run Yahoo, AOL

Look there's just not that many

Tim Armstrong, AOL's chief executive, posted a tweeted Monday indicating the new company will manage more than 20 different brands.

One has to wonder why those suits came up with a new name for Yahoo. What in tarnation? Is the combination of Yahoo and AOL some kind of demonic telecom funded cult?

Armstrong also stressed that brands like AOL and Yahoo will continue, with a "resurgence" ahead for them.

The next chapter in Yahoo's odd journey from cornerstone of the early internet to aged Verizon subsidiary is a bold rebranding.

The creation of Oath does not necessarily mean that Verizon will eliminate the AOL and Yahoo brands, but it does mean that these companies will operate and report financial results separately from Verizon.

Goodbye, AOL Mail and Yahoo Finance.

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This will culminate in a digital powerhouse consisting of 1bn-plus consumers and more than 20 global brands.

A spokesperson for Verizon would only say: "In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital". A rep for Yahoo declined to comment beyond a statement from Mayer when the Verizon deal was first announced previous year. "It's important to me to see Yahoo into its next chapter". But due to two massive cyberattacks that affected personal information of over 1 billion users, Verizon lowered the original offer by $350 million to $4.48 billion in February.

In July of previous year, Verizon announced that it will acquire the core internet business of Yahoo for around $4.8 billion.

Yahoo in September past year announced that hackers in 2014 stole personal data from more than 500 million of its user accounts and in December it admitted to another cyberattack from 2013 affecting more than a billion users. Then there also are the respective messaging services - AOL Messenger and Yahoo Messenger.

After completion of the sale, the remaining parts of Yahoo will be renamed Altaba.

The Verizon-Yahoo deal hit a number of bumps on the way to its closure. That name is Altaba Inc, which isn't too much better than Oath.

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