We all are well familiar with Yahoo’s complicated purchasing story. Now Verizon’s mass media company “AOL” and its newly acquired company “Yahoo” will merged under a new brand name. Verizon Re-brands Yahoo and AOL as “Oath” in Summer 2017. AOL CEO Tim Armstrong, has announced this on his Twitter account.
Verizon Re-brands Yahoo and AOL as “Oath”
Yahoo has not given any statement regarding this announcement yet. However, AOL has said that in summer 2017, it will lunch one of the most disruptive brand companies in digital. It is also official that Verizon has acquired and the deal is close now. Moreover, now Verizon has gain full control on Yahoo.
Verizon has done everything to convince Yahoo to modify the terms of the acquisition agreement. According to sources, Verizon is close to an updated deal to buy Yahoo Inc’s core internet business for $250 million to $350m less than the actual agreed price of $4.83 billion.
Also Read: Verizon to Finalize Yahoo Deal at $250-350m
After the sale of core businesses of Yahoo including Digital Advertising, Email and Media Assets to Verizon, 6 directors including the CEO (Marissa Mayer) leave the team. Moreover, the remains of Yahoo Inc. will get a new name “Altaba”. It is also confirmed that current Yahoo CEO Marissa Mayer will not continue with the new company.
In September, Yahoo revealed that in 2014, its 500 accounts compromised stealing names, emails, telephones numbers, and hashed passwords. Back in 2013, Yahoo faced the biggest data breach of the history. One billion user accounts have been hacked under that massive breach.
With the acquisition of Yahoo, Verizon is quite hopeful to generate revenue from Yahoo by placing the content to third party platform. Let’s see what Verizon do to make the company profitable.