After the telecom company, Verizon bought Yahoo, now time to rearrange things. Today after a tweet of Tim Armstrong, the CEO of AOL, that AOL and Yahoo are being merged to become a new company called Oath.
There was a lot of worries when negotiating yahoo purchase. All especially the hacking problem of more than 500 million accounts announced in last September. The price of $350 million had to be reduced. It took a while, but Yahoo ended up being sold for $4.48 billion.
Another thing to notice is that Verizon has purchased only the core part of Yahoo. Yahoo as the email, news, entertainment, etc, we know will remain the same. And Yahoo has more values such as its share in the Chinese e-commerce giant Alibaba, which part was recently renamed Altaba, Inc.
Here is probably the news:
Yahoo chief Marissa Mayer will quit the company's board after the merger with Verizon that creates Oath, according to an SEC filing, though she is expected to remain with the core Yahoo business. -Yahoo News