Oath Inc.

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Oath Inc. is a subsidiary of Verizon Communications that serves as the umbrella company of its digital content subdivisions, including AOL and Yahoo!. Verizon acquired AOL on June 23, 2015, followed by its acquisition of Yahoo!'s operating business in June 13, 2017. Following the completion of the Yahoo! sale and merger under Oath, AOL and Yahoo! maintain their respective brands.

Tim Armstrong, Oath's CEO, said the new company name was chosen to convey Oath's commitment to the digital media business.

Video Oath Inc.

Operations

Oath Inc. is a subsidiary of Verizon Communications. It is part of Verizon's Media and Telematics division. The company maintains dual headquarters in the former AOL and Yahoo! headquarters in Manhattan, New York, and Sunnyvale, California. Oath has offices elsewhere throughout the United States, in addition to Australia, Belgium, Brazil, Canada, China, Denmark, France, Germany, Hong Kong, India, Ireland, Israel, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Singapore, South Korea, Spain, Sweden, Taiwan, Thailand, and United Kingdom. Tim Armstrong, AOL's former CEO, was selected as Oath's chief executive. As of June 2017, Oath employs about 12,000 people.

Maps Oath Inc.

History

Verizon announced a $4.4 billion deal to acquire AOL in May 2015. The deal was an effort by Verizon to expand its technology and media offerings. The deal officially closed a month later.

A year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal for Yahoo!'s core internet business, looking to invest in internet company's search, news, finance, sports, video, email and Tumblr products. Yahoo! announced in September and December 2016 two major internet security breaches affecting more than a billion customers. As a result, Verizon lowered its offer for Yahoo! by $350 million to $4.48 billion.

Two months before closing the deal for Yahoo!, Verizon announced it would place Yahoo! and AOL under the Oath umbrella. The deal closed on June 13, 2017, and Oath was launched. Upon completion of the deal, Yahoo! CEO Marissa Mayer resigned. Yahoo! operations not acquired in the deal were renamed Altaba, a holding company whose primary assets are its 15.5 percent stake in Alibaba Group and 35.5 percent stake in Yahoo! Japan. After the merger, Oath cut 15 percent of the Yahoo-AOL workforce.