Yahoo and AOL will form new company called ... Oath

Yahoo is reportedly getting a new name.                  Ethan Miller Getty Images

Yahoo is reportedly getting a new name. Ethan Miller Getty Images

Included in those brands are media sites like Techcrunch and Engadget who regularly report on tech industry news. CFO Ken Goldman is also departing, although on his own steam as has been expected since the Verizon-owned Oath is lousy with financial types in NY.

Yahoo is selling its main operating business as a way to separate that from its more valuable stake in Chinese internet giant Alibaba, which will become a new entity, to be renamed Altaba, Inc., and will act as an investment company.

AOL CEO Tim Armstrong said Verizon will keep the names AOL and Yahoo, but the brands will fall under the umbrella of Oath.

"Billion+ Consumers, 20+ Brands, Unstoppable Team".

An Ars Technica piece titled, "Yahoo+AOL = Oath? #TakeTheOath. Summer 2017", Armstrong wrote on Twitter.

"You can bet we will be launching one of the most disruptive brand companies in digital", AOL said in a statement.

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This June, Verizon is scheduled to close on its purchase of Yahoo, valued at $4.48 billion excluding Yahoo's cash.

Other brands within Oath, a Verizon company, will include Flickr, Convertro, Autoblog, and Engaget. "Over time, if there's brands we can create around Oath, we would think about that".

Yesterday, USA Today sportwriter A.J. Perez tweeted this response: "Tribune Publishing: 'We will now be known as Tronc.' Verizon: 'Hold my beer'".

Last month, the Department of Justice indicted four individuals, including two offices of the Russian Federal Security Service, in connection with the Yahoo hack.

But after it was revealed Yahoo had two massive security breaches affecting more than one billion users Verizon and Yahoo agreed in February to cut the acquisition price by $350 million and to split the cost of any legal liabilities resulting from the breaches. In 2014, AOL also reported a security breach of its email service that's believed to have affected almost a half million accounts.

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