Media News

Oath is Dead

Oath, the bizarre name given to Verizon’s digital media subsidiary, is losing its name next year and will officially become Verizon Media Group on January 8, 2019.

Oath was formed on June 23, 2017 when Verizon purchased Yahoo for $4.48 billion. It merged the Internet site with its own content division that included AOL, Techcrunch and Huffington Post (now just HuffPost).

The Oath name was chosen by former AOL CEO Tim Armstrong. He became CEO of the new Oath division upon the merger with Yahoo in 2017 and was replaced last October by Guru Gowrappan.

Verizon’s acquisition of Yahoo and AOL hasn’t been a big boost for the company as these older web properties face immense competition from Facebook and Google. The company wrote off $4.6 billion in goodwill from the merger in its most recent earnings report.

 

 

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