Verizon plans to merge Yahoo and AOL under one brand named “Oath”, but the two internet giants will be able to keep their names, according to a news report.
The communications firm Verizon is currently looking to close its acquisition of Yahoo, which has been the subject of scrutiny for the past year.
The $4.8-billion deal was announced in July, but was plagued by news of data breaches, which resulted in a $350m discount for Verizon.
The news initially came from Business Insider, who quoted “sources”, but the news seems to be confirmed by a tweet from AOL CEO Tim Armstrong.
According to Business Insider, the deal gives Verizon Yahoo’s search, mail, content and adtech businesses. What remains of Yahoo will live on as Altaba.
The nwss site reports that “a big new branding campaign” is expected to coincide with the launch of the new company.
“In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital,” an AOL spokeswoman told Business Insider.
Business Insider also noted the deal is expected to close in the second quarter, but the deadline could be extended – or the deal could still be terminated.
— Tim Armstrong (@timarmstrongaol) 3 April 2017