(Image: AOL)
When Verizon completes its acquisition of Yahoo’s core business, the merger of AOL and Yahoo will result in a new parent company called Oath.
AOL CEO Tim Armstrong on Monday tweeted an image of Oath’s logo, with the caption: “Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.”
Business Insider first reported the name change. “In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital,” an AOL spokeswoman said.
Specifics of how Oath will be structured and if Verizon will continue using the AOL and Verizon names in the future isn’t clear.
The sale doesn’t include Yahoo’s cash, its shares in Alibaba Group Holding, its shares in Yahoo Japan, or Yahoo’s non-core patents. Upon the closing of the sale, the remaining parts of Yahoo will be renamed to Altaba Inc.
Verizon’s acquisition of Yahoo is expected to close this quarter. Yahoo and Verizon agreed to reduce the price of the acquisition by $350 million following two massive cyberattacks, the largest in history.
VIDEO: What you need to know about the Yahoo breach
