After Verizon officially acquires Yahoo, the newly created content division will get a new name: ‘Oath.’ It might not be the worst name ever (Tronc still exists) but it’s damn sure trying to be.
After announcing the acquisition last July, Verizon got a discount on the dot com icon after Yahoo revealed it had suffered a major data breach not once, but twice. Overall, 1.5 billion users may have been compromised leading Verizon to ask for a discount of up to $1 billion off the original purchase price.
Once the dust settled, Verizon got a discount of $350 million and agreed to purchase yahoo for $4.48 billion in cash for Yahoo’s search, content, ad-tech, and mail-related businesses. It’s unclear whether any of these will still operate under the previous moniker.
Not included in the deal are Yahoo’s 15-percent stake in Chinese retail juggernaut Alibaba, and a part of Yahoo Japan, which was a joint venture with SoftBank.
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Now, Verizon is nearing the completion of the acquisition and taking aim at the future. The plan is to roll AOL and Yahoo into one unit, and name it Oath. *shudder*
AOL CEO Tim Armstrong confirmed the new name in a tweet:
Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017. pic.twitter.com/tM3Ac1Wi36
— Tim Armstrong (@timarmstrongaol) April 3, 2017
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