"Yahoo+AOL --> Oath" But Yahoo Is Not Dead For The Second Time

Above Signage hanging along the courtyard at Yahoo's headquarters in Sunnyvale

Verizon has announced that, once it combines the remnants of AOL and Yahoo!, it will get a new name: Oath (yes, as in "oath of office"). The deal, which included Yahoo's core assets, real estate assets and some intellectual property, was initially pegged at $4.80 billion. AOL CEO Tim Armstrong is also likely to play a major role in running the new company.

Once completed, one of the effects of the deal will be the merger of Yahoo with the AOL unit of Verizon under executive VP and president of product innovation and new businesses Marni Walden. Neither Yahoo nor AOL would comment to the tech site about Mayer's future.

Verizon is buying Yahoo's assets for about $4.48 billion to expand beyond a maturing wireless and landline business into mobile media and advertising ventures.

Faced with an absence of information about the new company, many outlets dedicated to covering technology focused on its name.

Armstrong's latest remarks came as Verizon's acquisition of Yahoo hits speed bumps.

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The deal, first announced in July of past year, is expected to be final by sometime this summer. And that's when the things went completely haywire at Yahoo as it revealed their server had been breached and the personal info of over 1.5 billion user accounts has been stolen in two hacking attempts back in 2013 and 2014. Yahoo Finance suggests that Verizon will not be diluting the widely known Yahoo brand under the aforementioned process.

Last month, the Department of Justice indicted four individuals, including two offices of the Russian Federal Security Service, in connection with the Yahoo hack.

A report by Recode, meanwhile, claims that Yahoo CEO Marissa Mayer will not be a part of Oath once it is formed. Yahoo's board also opted not to award Mayer her cash bonus.

Not included in the deal are Yahoo's 15-percent stake in Chinese retail juggernaut Alibaba, and a part of Yahoo Japan, which was a joint venture with SoftBank.

CFO Ken Goldman is also departing, although on his own steam as has been expected since the Verizon-owned Oath is lousy with financial types in NY.