AOL and Yahoo merger named Oath

Look there's just not that many

On Monday, Business Insider reported a scoop: that after Verizon completes its acquisition of Yahoo, AOL and Yahoo "plan to call themselves by a new name" and that the new name is Oath. One can also find the tweet regarding this made by Tim Armstrong, AOL's top executive which says that the newborn company will manage more than 20 different brands.

It will be interesting to see why the more recognizable (and, quite frankly, less nonsensical) Verizon branding isn't being extended to the AOL and Yahoo! properties.

Verizon is acquiring Yahoo's assets under a $4.48bn transaction, which is expected to be completed by the end of June this year. Armstrong, who has led the integration planning team, has extolled the deal as a way to give advertisers a bigger audience online.

The remaining Yahoo assets - mostly investment holdings in Alibaba - will be renamed Altaba. But due to two massive cyberattacks that affected personal information of over 1 billion users, Verizon lowered the original offer by $350 million to $4.48 billion in February.

According to sources, Yahoo CEO Marissa Mayer will not be continuing with the new company that was announced today prematurely in a tweet by AOL CEO Tim Armstrong. While an AOL spokeswoman neither confirmed nor denied the new name, she told us to watch for the "launching" of the new company.

Armstrong said Tuesday the Yahoo and AOL brand names aren't going away. The company was hacked and billions of Yahoo accounts were compromised in the process. Yahoo's board also opted not to award Mayer her cash bonus.

At the helm of the company for almost five years, Mayer's reign of the struggling business was met with much criticism as Yahoo never caught up to its internet counterparts.

Under the terms of the new deal, both companies will split the cost of some lawsuits arising from the data breaches, announced previous year.

Yahoo's CEO Marissa Mayer, pictured, will not be a part of Oath.

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