- Daily Zen
When some of the biggest brands of the internet connectivity industry undergo changes, it is bound to draw the attention of audiences worldwide. Especially if the identities of the brands change, one simply can’t ignore such information. Changing the name of a company after it is well-established is a big deal. This is because the name is etched in the minds of millions of people as it helps them relate to the brand. Changing the name might improve the public image of the company or diminish its popularity completely. Therefore a change in name is a major leap for a company of any field. And this leap is taken by Verizon Communications. After merging Yahoo and AOL, it will change the name of the organization to Oath.
Verizon will merge Yahoo with AOL after completing its acquisition of Yahoo. After making the necessary changes, the newly formed division will be known as Oath. The deal between Yahoo and Verizon first came up in July last year. According to this announcement, Verizon will acquire the core internet business of Yahoo at the price of around $4.83 billion in cash. Following this, Yahoo announced in January that the parts of the company which is not under Verizon will run with the name of Altaba. The deal between Yahoo and Verizon will close somewhere in the second quarter of 2017.
— Tim Armstrong (@timarmstrongaol) April 3, 2017
The head of the AOL division of Verizon, Tim Armstrong made the announcement regarding Oath through his Twitter handle on Tuesday. In his tweet, he released the first look of the logo of Oath and also stated that it is a collaboration of Yahoo and AOL under the guidance of Verizon. The brand of Oath applies to the digital media division of Verizon. Despite this, AOL, Yahoo, and The Huffington Post will continue to work individually with their original names as well.
Verizon shows interest in Yahoo as it shares a deep relationship with its customers which enhances its value. Notably, ventures like Yahoo Sports and Yahoo Finance have instilled impressive loyalty among its users. In a similar manner, AOL Mail and AOL.com also have a great following of people. There is a slight change in Yahoo’s administration as its CEO Marissa Mayer will not hold any position in Oath. Apart from this, Verizon aims at teaming up Yahoo and AOL to come up with a path-breaking internet organization.