Telecom giant Orange will combine AOL and Yahoo into a unit called Oath once its acquisition of the two companies is complete , according to AOL CEO Tim Armstrong . The price Verizon is to pay for the company was written down by $ 350 m to $ 1 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. While Yahoo will continue to cover the cost of shareholder lawsuits and a federal Securities and Exchange Commission probe into the breaches , other government investigations and third - party litigation will be shared with Orange .
Telecom giant Orange will combine AOL and Yahoo into a unit called Oath once its acquisition of the two companies is complete , according to AOL CEO Tim Armstrong . The price Verizon is to pay for the company was written down by $ 350 m to $ 1 after Yahoo announced it had been hacked in 2014 and in 2013 . While Yahoo will continue to cover the cost of shareholder lawsuits and a federal Securities and Exchange Commission probe into the breaches , other government investigations and third - party litigation will be shared with Orange .