AOL and Yahoo to Become Oath
What: After merging Aol and Yahoo, both part of Verizon, the new company will be called Oath. Marni Walden, AOL’s executive vice president and president of product innovation and new businesses will lead the new company. Separately, Yahoo has redesigned its homepage and updated its Yahoo Finance and Yahoo Sports hubs for Spanish-speaking audiences in the U.S. and Latin America.
Why it matters: On July, Verizon announced Yahoo’s acquisition through a 4.8 billion dollar cash transaction.
After announcing Yahoo’s acquisition on behalf of Verizon last July, speculations were made about how the digital content company would merge with the telecommunications giant.
Today was announced that, after merging AOL and Yahoo, the new company would be known as Oath. By doing this, Verizon hopes to boost Yahoo’s search, mail, content, and ad-tech businesses.
Marni Walden, AOL’s executive vice president and president of product innovation and new businesses will lead the new company. And Marissa Meyer, former Yahoo CEO, will step down from the company.
It hasn’t been announced if Yahoo will keep its name for any of its different business divisions. By now, AOL’s CEO, Tim Armstrong, confirmed the new company’s new name on his Twitter page. “Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.”
— Tim Armstrong (@timarmstrongaol) April 3, 2017
A spokesperson at AOL told Business Insider that Oath would be launched in the summer as a new disruptive company.
Some months back, at the beginning of the year, Yahoo’s acquisition was being questioned after the media company suffered two data breaches affecting 1.5 billion users. Nevertheless Verizon confirmed the transaction was still on, and would be finished during the years second quarter.
The business units from Yahoo which Verizon is not buying, such as 15% of Chinese retailer, Alibaba, and part of Yahoo in Japan will now be known by the name of Altaba.
It seems Yahoo maybe keeping its name in Latin America and the U.S.-Hispanic market. Today the company announced some changes to its Spanish site. Yahoo has redesigned its homepage and updated its Yahoo Finance and Yahoo Sports hubs for Spanish-speaking audiences in the U.S. and Latin America. The design is now cleaner and more modern. New features increase personalization and sharing of content. The update unifies Yahoo’s homepage with its properties, giving a more consistent experience across devices, said Carolina Casares, Yahoo’s chief of Hispanic media in a blog post.