AOL and Yahoo take a new Oath, but Marissa Mayer may not swear in. AOL CEO Tim Armstrong has confirmed the new name for the combined AOL and Yahoo internet properties: Oath. Armstrong confirmed the new brand in a tweet urging users to #TakeTheOath. The new Oath brand will combine Verizon’s own digital units with those of Yahoo and AOL. This will culminate in a digital powerhouse consisting of 1bn-plus consumers and more than 20 global brands. Verizon’s acquisition of Yahoo (now valued at $4.4bn) is expected to close in June. A number of high-profile data breaches saw Verizon reduce the value of the deal by $350m. Verizon intends to capitalise on its potential for digital advertising, especially in the realms of programmatic direct to smartphone devices. The core of the new Oath brand will be services such as Yahoo Sports and Finance as well as AOL brands such as TechCrunch and The Huffington Post. In related news, Yahoo CEO Marissa Mayer is unlikely to be part of Oath. Recode cited sources that indicate Tim Armstrong will lead the new business. In recent weeks, we reported that Mayer is likely to resign from the company after the sale of Yahoo concludes, and she may be awarded a severance package worth $23m. Twitter’s reaction to the new brand name has been mixed.
Oath has been unveiled as the new name for merged internet properties AOL and Yahoo, according to AOL CEO TechCrunch. Combining Verizon’s digital units with Yahoo and AOL's, the new Oath brand will boast more than a billion consumers and upwards of 20 global brands, with Tim Armstrong, The Huffington Post and Yahoo Sports and Finance at their core. Verizon's $4.4bn acquisition of Yahoo, which has been plagued several data breaches, is set to close in June. TechCrunch is said to be leading Oath, while Yahoo CEO Marissa Mayer is predicted to resign.