Verizon Makes New Oath

Verizon Makes New Oath

By Richard Adhikari

Jun 19, 2017 2:40 PM PT


Verizon last week completed its US$4.5 billion acquisition of Yahoo’s operating business assets, merging it with its existing AOL business to create
Oath.

The new subsidiary encompasses more than 50 media and technology brands — including HuffPost; Yahoo Sports, Finance and Mail; AOL.com; Makers; Tumblr; TechCrunch; Flickr; and Build Studios.

Oath is organized around content: news, sports, finance, entertainment and lifestyle.

Oath’s CEO is Tim Armstrong, who was CEO of AOL prior to the merge.

Verizon will begin loading App Flash, which will carry Yahoo and AOL brands, on Verizon phones, Armstrong said.

Verizon announced that it will cut about 2,000 jobs as a result of the merger — roughly 15 percent of the combined Yahoo and AOL workforce.

Yahoo CEO Marissa Meyer has no role in the newly formed company, which was expected.

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