×
You will be redirected back to your article in seconds

Combined AOL, Yahoo Division to Be Named ‘Oath,’ Marissa Mayer Reportedly Not Coming Aboard

Once Verizon completes the takeover of Yahoo’s internet businesses, it’s going to merge them with AOL — and the new entity will be called “Oath,” AOL CEO Tim Armstrong confirmed Monday.

Yahoo CEO Marissa Mayer will not be joining Oath, according to anonymous sources cited by Recode. Previously, Mayer had told employees that she intended to stay on post-merger. Under the terms of her contract, Mayer will get an exit package worth $23 million if she is terminated or quits for good cause following Verizon’s acquisition.

Reps for Yahoo and AOL did not respond to requests for information about Mayer’s status.

Armstrong posted a logo for the new company on Twitter Monday afternoon, with the message: “Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.” According to an AOL rep, the company will continue to use both the AOL and Yahoo brand names.

Armstrong’s tweet came after an earlier report about the new name by Business Insider.

[UPDATE, April 4: AOL has launched a new section of its website with information on Oath, which encompasses 25-plus brands of AOL and Yahoo. On Tuesday, an AOL rep explained the name in an email: “By definition, an Oath is a commitment. The name reflects who we are, what we stand for, and the promises we make to each other, our consumers, our customers and our partners.”]

Verizon and Yahoo have said they expect the deal to close sometime in the second quarter, after initially targeting Q1. That was delayed after Yahoo disclosed two massive data breaches — one of which U.S. officials have traced to Russian spies — leading Verizon to reduce the purchase price by $350 million, to about $4.48 billion.

Per the terms of the original agreement, the deadline for the deal to close is April 24, 2017, but may be extended by three months, according to a Yahoo regulatory filing.

Word of the merged AOL-Yahoo’s new name immediately prompted snickering on social media, with some drawing comparisons to Tronc, the odd-sounding name Tribune Publishing adopted last summer.

More Digital

  • apple music

    Verizon Bundles Apple Music With Top-Tier Unlimited Wireless Plans for No Extra Charge

    Verizon has expanded its ties to Apple — offering wireless subscribers on its two most expensive unlimited plans access to the Apple Music for no extra charge. Starting Jan. 17, Apple Music will be included in Verizon’s Beyond Unlimited and Above Unlimited plans, the telco announced Tuesday. For Apple, the bundling agreement promises to augment [...]

  • Infowars Alex Jones

    Roku Removes Infowars Channel Following Backlash

    Roku has taken the Infowars channel off its platform after the streaming device faced criticism for carrying the controversial program hosted by right-wing conspiracy theorist Alex Jones. “After the InfoWars channel became available, we heard from concerned parties and have determined that the channel should be removed from our platform,” stated the company’s tweet on [...]

  • SAMUEL L. JACKSON in Glass. M.

    ‘Glass’ Again Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the TV advertising attention analytics company iSpot.tv, Universal Pictures claims the top spot in spending for the second week in a row with “Glass.” Ads placed for the superhero thriller had an estimated media value of $9.89 million through Sunday for 1,183 national [...]

  • Snap Inc

    Snap CFO Tim Stone to Leave Company

    Snapchat corporate parent Snap Inc. is facing another major executive departure: The company’s chief financial officer Tim Stone is on his way out, Snap revealed in a regulatory filing Tuesday afternoon. Stone will stay with the company to find a new candidate for his position for the time being, according to the filing. His last [...]

  • birdbox Sandra Bullock

    Will Netflix's Latest Price Hike Spur a Customer Backlash?

    Netflix is rolling out its biggest price increase to date — including hiking the standard HD plan from $10.99 to $12.99 per month — for all subscribers in the U.S. and parts of Latin America. The obvious risk: Some customers will see the higher prices as a reason to bail on Netflix, while there’s also [...]

  • Alex Jones Infowars

    Roku Faces Criticism Over Infowars Channel

    Streaming device maker Roku faced a backlash Tuesday over its decision to carry a channel for Infowars, the controversial website of right-wing conspiracy theorist Alex Jones. The company responded by saying that Infowars wasn’t currently violating its terms of use. The uproar over Roky carrying Infowars comes a few months after most other major platforms, [...]

  • BTS 'Burn the Stage: The Movie'

    BTS 'Burn the Stage: The Movie' Documentary Set to Hit YouTube Premium Service

    “Burn the Stage: The Movie,” a documentary following K-pop group BTS on their 2017 concert tour, will be streaming on the YouTube Premium subscription service starting this Friday. The movie is based on the previous YouTube original series “BTS: Burn the Stage.” Since its release in theaters worldwide last November, “Burn the Stage: The Movie” has [...]

More From Our Brands

Access exclusive content