While it isn't clear if the Yahoo name is going to live on, the company's internet assets will be run by Verizon's AOL division.
Generally, there seems to be confusion as to where the name came from and how it relates to either Yahoo or AOL.
Yahoo Inc. signed Stock Purchase Agreement with Verizon Communications Inc. on July 23, 2016.
The new company will officially exist once the $4.5 billion acquisition of Yahoo by Verizon is completed, The Washington Post reports. But Yahoo's odd journey from being the poster child of the internet to an elderly Verizon subsidiary is disheartening.
Perhaps what is more surprising is the name of said pro forma company, which according to Kara Swisher will be called "Oath", and will be headed by Armstrong. (It was formerly called "RemainCo" in acquisition documents.) The filing led many outlets to erroneously report that Yahoo, the media brand, would be changing its name to Altaba.
What do you think of Verizon's plans for Yahoo and AOL?
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. 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. Then there also are the respective messaging services - AOL Messenger and Yahoo Messenger.
At the helm of the company for almost five years, Mayer's reign of the struggling business was met with much criticism as Yahoo never caught up to its internet counterparts.
Yahoo as we know it may be done.
Yahoo previously announced that the parts of the business Verizon is not acquiring - mostly Yahoo's remaining investment in Alibaba Group Holding Ltd.
Just like us, Roberts is also unclear about the reasons why it's named Oath.