Verizon first announced its plans to acquire Yahoo in July previous year.
Business Insider first reported on the rebranding rollup and noted that it is unclear whether the Yahoo and AOL brands will remain in any capacity. And now, with AOL - Yahoo to be named "Oath", Verizon is also being criticized by many for choosing a weird brand name. More than 20, if we are to believe what he said.
Verizon is counting on the combination of Yahoo and AOL to help it sell more digital ads, even though the two internet pioneers had been struggling on their own. This is probably why Verizon made a decision to take this path.
Verizon sought nearly triple the price reduction that it ultimately obtained for Yahoo core assets following the massive cyber attacks.
Verizon is acquiring Yahoo's assets under a $4.48bn transaction, which is expected to be completed by the end of June this year.
Yahoo in September a year ago announced that hackers in 2014 stole personal data from more than 500 million of its user accounts and in December it admitted to another cyberattack from 2013 affecting more than a billion users.
Many considered those two breaches the largest in the history of technology. Last month, the most senior lawyer at Yahoo resigned following a report which found that the company didn't look into the case involving hack of 32 million Yahoo accounts.
Verizon's acquisition of Yahoo's operating business is expected to be completed by July, at which point the rest of the company will become a new entity involved in investment called Altaba Inc.
After the recent issues which Yahoo struggled with, many experts began saying that people might slowly give up on the internet company. Possibly they're meant to be symbolic of the pent-up demand for the kind of internet products and services Oath will provide. So, there is a huge financial problem which Yahoo might struggle with. Verizon then reportedly closed the deal at about $350 million less than the initially agreed amount. The potential is there (Yahoo Mail, for example), but chances are the new Oath leadership will want to severe all ties to Yahoo's tarnished past and start anew.