Telecom giant Verizon will combine AOL and Yahoo into a unit called Oath once its acquisition of the internet companies is complete, according to AOL CEO Tim Armstrong. The price Verizon is to pay for the company was written down by $350m to $4.48bn after Yahoo announced it had been hacked in 2014 and in 2013. Yahoo announced in September that hackers in 2014 stole personal data from more than 500 million of its user accounts. Armstrong said he expected the deal would be completed within two months.
Telecom giant Verizon will combine AOL and Yahoo into a unit called Oath once its acquisition of the internet companies is complete, according to AOL CEO Tim Armstrong. The price Verizon is to pay for the company was written down by $350m to $4.48bn after Yahoo announced it had been hacked in 2014 and in 2013. Armstrong said he expected the deal would be completed within two months.