Verizon Communications will create a new company called Oath after it completes its $4.5bn acquisition of Yahoo and melds the troubled internet company with its AOL operations.
Oath will oversee Yahoo and AOL after the deal is completed.
Tim Armstrong, AOL’s CEO, is expected to run Oath while Yahoo’s CEO Marissa Mayer will not be part of the new venture, Recode reported.
Neither AOL nor Yahoo commented on what her severance might entail.
Tim Armstrong, AOL’s CEO, posted a tweet Monday indicating Oath will manage more than 20 different brands.
He tweeted: ‘Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.’
Source: AOL and Yahoo merger named Oath | Daily Mail Online
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