After the Verizon deal for merging Yahoo and AOL closes, the plan is to give the department a new name. According to sources, Oath is the new name of the division.
Merging Yahoo and AOL
According to the deal made in July last year, Verizon will take over Yahoo’s core online operations for almost $4.8 billion paid cash.
Verizon will merge its AOL unit with Yahoo, hence taking over Yahoo’s ad-tech business, mail, content and search. Marni Walden, the executive vice president and president of product innovation and new businesses will manage the new department.
Yahoo made an announcement in a Securities and Exchange Commission filing in January. It stated that Yahoo would continue its remaining 15% part of a joint venture with SoftBank, the Chinese retail giant Alibaba and a part of Yahoo Japan, with the name of Altaba.
A New Brand Campaign
There is no confirmation that Verizon will use the name of Yahoo in any of its acquired parts of the business. However, it is expected that a new branding campaign is about to begin soon. More details regarding the new company will also be updated as soon as we’ll get hold of it.
While Yahoo refused to expose the new name, an AOL spokeswoman declining to comment, requested to watch the company’s launch. She said:
“In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital”
On Monday afternoon, however, Tim Armstrong, CEO of AOL posted a tweet confirming the new name of the company:
“Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017”
— Tim Armstrong (@timarmstrongaol) April 3, 2017
The deal between Yahoo and Verizon is expected to close perhaps before or on 24th April 2017. Both the dealing parties are allowed to terminate the deal at will. They can also request three-month extension after 24th April.