AOL and Yahoo to be combined under new unit ‘Oath’

AOL and Yahoo will combine into one unit called “Oath” after telecom titan Verizon buys the pioneering internet firm, according to a tweet by the AOL chief.

Confirmation of a new name for what the world has long known as Yahoo was tweeted from a verified @timarmstrongaol account after reports of the new name leaked in US media reports.

Yahoo reported losing $214 million in 2016 on income that crawled up to $5.2 billion from $5 billion in 2015. Yahoo chief Marissa Mayer will stop the organization’s board after the merger with Verizon that makes Oath, as indicated by a SEC recording, however, she is required to stay with the center Yahoo business.

Verizon began arranging a takeover of Yahoo’s Internet business in mid-2016, yet the organization’s endeavors were packed off to a slither taking after two noteworthy hacking embarrassments that Yahoo was the focal point of. Verizon will supposedly pay $4.8 billion for the organization’s center unit, roughly $1.2 billion not as much as what it was eager to pay before Yahoo was hit with the hacking embarrassments. Time will tell whether the deal is a good long-term move for Verizon, however, more subtle elements of the matter will undoubtedly take later on.

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