AOL CEO Tim Amstrong announced on Twitter that Verizon would be merging more than 20 businesses belonging to Yahoo and AOL under a single umbrella called "Oath". The Yahoo and AOL brands are expected to survive, although Verizon says it won't provide any details about its plans for Oath until this summer.
With Yahoo under new management, it was only a matter of time before some big changes would be made. What in tarnation? Is the combination of Yahoo and AOL some kind of demonic telecom funded cult? It would of course make a lot of sense for Verizon to keep names like Yahoo Mail and Yahoo News with massive recognition.
Reports have suggested Mayer could stand to walk away from Yahoo with a payout of $122m following Verizon's $4.8bn purchase of the ailing company, however the company has not responded to rumours.
With the revelations of Oath, it doesn't seem likely that Armstrong nor current Yahoo CEO Marissa Mayer will be helming the new company.
Together, AOL and Yahoo own a number of prominent brands, including The Huffington Post, TechCrunch, Engadget, Tumblr, Flickr and MovieFone. Oath will boast over 20 online brands that are said to reach 1.3 billion users and $7USD billion in sales. If it's up to me, I will not be taking any "oaths", thank you very much.
The U.S. Justice Department charged two Russian intelligence operatives along with a pair of hackers last month in connection with the cyberattacks. Then there also are the respective messaging services - AOL Messenger and Yahoo Messenger. The deal was delayed due to Yahoo's recent hacking disaster and the decline in business.
The other bits of Yahoo that aren't carrying over in the transition will be renamed Altaba. As for Yahoo's cash and lucrative stakes which are in the Asian companies called Alibaba Group and Yahoo Japan, those will go under the control of a new company called Altaba.
Just like us, Roberts is also unclear about the reasons why it's named Oath.