Reports indicate that when Verizon Communications combines its two acquisitions, Yahoo and AOL, the resulting entity will be named ‘Oath’. This new entity will be launched in summer after Verizon Communications completes the acquisition of Yahoo. The new name was confirmed in a tweet by AOL’s head, Tim Armstrong, who also assisted in spearheading the acquisition of Yahoo.
“Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017,” wrote Armstrong on Twitter.
According to Armstrong the name was created to suit the new entity’s designation as a business-to-business brand. It will, however, not be used as the new face of the merger as the different brand names will continue to exist. Verizon Communications will thus use the name only to pitch to other businesses.
The new name of the resulting entity from the Yahoo/AOL merger was; however, not communicated according to the plan that had originally been planned as it was a leak. However, Armstrong said that the fact that a lot of people seemed to have an opinion on the matter showed that people cared about the brands which were important.
After the merger some redundancy in coverage of content is expected especially when brands owned by AOL are merged with those of Yahoo. Some of AOL’s brands include Engadget, Techcrunch, and Huffington Post while those of Yahoo include Yahoo Finance and Yahoo Sports. However, this will also present opportunities for cross-promotion of content across existing channels by, for instance, stories on Huffington Post becoming available on Yahoo and content from, say, Yahoo Sports being syndicated to AOL Sports.
The bigger challenge though for the merger is in the corporate and operations side of the businesses. As a result the process of shaping the executive team is in the pipeline. Some reports indicated that the current chief executive officer of Yahoo, Marissa Mayer will not be staying on. This will contradict what she had said last year in July that she would be staying on to shepherd Yahoo into the next chapter.
Verizon’s deal to acquire Yahoo is expected to close later this month. By acquiring Yahoo, Verizon is looking to build a digital advertising powerhouse that will rival the likes of Facebook and Google. It has not been a smooth ride for Verizon in its quest to acquire Yahoo though. One of the factors that complicated the bid was a revelation that hundreds of Yahoo user accounts had been compromised in a security breach. Though Verizon looked past that, it resulted in Yahoo having to shave off $350 million from its earlier asking price.