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Verizon to take 'Oath' as new company to run Yahoo, AOL

8 months 1 week 5 days ago Monday, April 03 2017 Apr 3, 2017 April 03, 2017 9:08 PM April 03, 2017 in News
Source: Associated Press

SAN FRANCISCO - Verizon Communications will create a new company called Oath after it completes its $4.5 billion acquisition of Yahoo and melds the troubled internet company with its AOL operations.

Oath will oversee Yahoo and AOL after the deal is completed. The Yahoo and AOL brands are expected to survive, although Verizon says it won't provide any details about its plans for Oath until this summer.

Tim Armstrong, AOL's top executive, posted a tweet Monday indicating Oath will manage more than 20 different brands.

Verizon is counting on the combination of Yahoo and AOL to help it sell more digital ads, even though the two internet pioneers had trouble on their own.

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