The Verizon Communications is said to create this new company Oath after the completion of the acquisition of Yahoo and AOL.
Yahoo (YAHOF) and AOL are expected to form a new company under Verizon called Oath.
An AOL spokeswoman later added that this summer, "one of the most disruptive brand companies in digital" will be launched.
Neither AOL nor Yahoo commented on what her severance might entail. Overall, 1.5 billion users may have been compromise leading Verizon to ask for a discount of up to $1 billion off the original purchase price. The report also said that Armstrong, who will be heading Oath, is now busy deciding who among the top Yahoo execs in Silicon Valley will stay with the new Verizon division. It will include stakes in Asian assets not sold to Verizon, plus short-term debt investments, cash and a patent portfolio.
The Yahoo/Verizon acquisition deal is slated to close sometime in the second quarter of 2017, possibly sometime within the next month.
Apparently the Yahoo brand isn't going away as part of the Verizon merger.
It's been almost a year since Verizon announced its intention to acquire Internet giant Yahoo in a deal valued at almost $5B. "I love Yahoo, and I believe in all of you".
An independent investigation concluded this year "certain senior executives" at Yahoo "did not properly comprehend or investigate" the security breach.
Apparently not coming along for the ride at Oath will be current Yahoo Marissa Mayer, according to Recode, which reported that the terms of her exit is still being negotiated. Verizon agreed to pay approximately $4.8 billion for Yahoo's core business, leaving behind about 15% of Chinese retail giant Alibaba and a part of Yahoo Japan. Though we all know nobody likes change, so we'll see how "unstopable" Oath becomes when it arrives this summer.