Verizon Takes Oath With AOL And Yahoo

Posted: Apr 4 2017, 7:35am CDT | by , Updated: Apr 4 2017, 8:32am CDT, in News | Technology News

 
Verizon Takes Oath With AOL and Yahoo
Tim Armstrong Twitter
  • AOL and Yahoo have been acquired by Verizon and will be Part of a New Setup called Oath

It looks like AOL and Yahoo have been acquired by Verizon and will be a part of a new setup called Oath pretty soon.

AOL and Yahoo stand to be mixed together under one huge conglomerate termed Oath. This will occur after telecom giant Verizon acquires both these setups. Thus it seems that Yahoo will be getting a new name.

There was a price slashing earlier onwards in 2017. This resulted in Verizon getting back on track and making plans to purchase Yahoo and its Internet concerns.

The costs of a couple of hacks, that threatened to act as a spanner in the works, have been shared. A certain price must be paid for everything worth it in the end. Yahoo began by cutting its price down to $350 million.

After Verizon is through with Yahoo, its total assets will equal a cool $4.48 billion. About three years ago, hackers stole the personal data of over 500 million of its users with accounts.

In December, there were reports of other cyber attacks. It seemed there was no way out of this scourge. A billion users had been badly shaken by this hacking incident.

The Justice Department of the US accused Russian operatives of hacking into several databases. This was the biggest such cyber-attack that had ever occurred up until now.

The Kremlin under Vladimir Putin denied any knowledge of such wrongdoing on Russia’s part though. By the time July rolls along, Yahoo will be an integral part of Verizon. The two decades it has spent as an independent company will be over for better or for worse.

But Yahoo media brand isn’t going away. Some of Yahoo media sites are being sold to save its execs and head honchos from the stake the company has in the Chinese Internet giant Alibaba.

According to Yahoo News, "Yahoo, the media brand so many consumers know, that includes Yahoo Finance, Yahoo Sports, Yahoo News, and other verticals, is not going away. Oath is simply the name Verizon has chosen for the media division that will house Yahoo’s media sites, AOL (including TechCrunch and Engadget) and Huffington Post."

Last year, Yahoo had a billion active members. After Yahoo merges with Verizon to form a new entity called Oath, its current CEO, Marissa Mayer will quit her position and head for fresher and greener pastures.

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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