Verizon last week completed its US$4.5 billion acquisition of Yahoo’s operating business assets, merging it with its existing AOL business to create Oath.
The new subsidiary encompasses more than 50 media and technology brands — including HuffPost; Yahoo Sports, Finance and Mail; AOL.com; Makers; Tumblr; TechCrunch; Flickr; and Build Studios.
Oath is organized around content: news, sports, finance, entertainment and lifestyle.
Oath’s CEO is Tim Armstrong, who was CEO of AOL prior to the merge.
Verizon will begin loading App Flash, which will carry Yahoo and AOL brands, on Verizon phones, Armstrong said.
Verizon announced that it will cut about 2,000 jobs as a result of the merger — roughly 15 percent of the combined Yahoo and AOL workforce.
Yahoo CEO Marissa Meyer has no role in the newly formed company, which was expected.
Immediate Plans for Oath
Oath will be used to test an over-the-top streaming service Verizon plans to launch later this year, CEO Lowell McAdam said earlier this month.
Verizon reportedly has been exploring the possibility of delivering a skinny bundle over the Internet, similar to DirecTV Now and Dish Network’s Sling TV.
Verizon paid the U.S. National Football League $21 million for rights to the Sept. 24 regular-season game between the Baltimore Ravens and Jacksonville Jaguars in London, England. The game will be streamed live across Verizon’s video platforms, including AOL, Yahoo, FiOS TV, Go90 and Complex.
The company may have its work cut out for it, warned Michael Jude, a research manager at Stratecast/Frost & Sullivan.
Existing content producers have been having trouble figuring out how to make money from the OTT content delivery trend, he told the E-Commerce Times.
Verizon has experience in content delivery,…