Verizon should be buttoning up the purchase of Yahoo in June and once that’s done the company will merge it and AOL into a new brand named Oath. Oath will boast over 20 online brands that are said to reach 1.3 billion users and $7USD billion in sales. Included in those brands are media sites like Techcrunch and Engadget who regularly report on tech industry news. This is going to give Verizon quite the reach for not only its 20 brands but Verizon itself.
— Tim Armstrong (@timarmstrongaol) April 3, 2017
“In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital, ” said AOL in a statement.
Verizon’s Yahoo deal is expected to be worth just over $4USD billion dollars and their purchase of AOL back in 2015 was also just over $4USD billion dollars. Once Yahoo has been finalized it will be broken up merging some divisions with AOL to create Oath. The other parts of Yahoo will be renamed Altaba and that arm of the company already has a new head in Thomas McInerney.
Verizon got a bit of a discount on the Yahoo deal since Yahoo’s recent security problems made headlines. The company was hacked and billions of Yahoo accounts were compromised in the process. Some of those accounts were very old and not in use but many were still live and in use.
As you can read from Tim Armstrong’s tweet above, Oath is pushing to become an “unstoppable team” of media outlets and other brands. It should be interesting to see where the Oath brand goes and how Yahoo and AOL are reformed and reimagined.Source: CBR
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