Oath, which brought together assets from the $4.4 billion acquisition of AOL in 2015 and the $4.5 billion acquisition of Yahoo in 2017, will be renamed as Verizon Media Group from 8 January.
The announcement comes just days after Verizon revealed in a filing that it would write down its media arm by $4.6 billion whilst also cutting around 10% of its workforce.
Verizon Media Group will be led by Guru Gowrappan, who joined Verizon from Alibaba earlier this year. Oath was originally led by former AOL CEO Tim Armstrong, but he is set to leave Verizon at the end of the year.
Gowrappan revealed the rebranding exercise in a blog post, in which he highlighted Oath’s achievements. Oath contained a number of existing brands, such as HuffPost, AOL, Yahoo Play, Sports and Finance, Flurry, and Tumblr. These will all now become part of Verizon Media Group.
Gowrappan wrote: “I’m excited today to share that beginning January 8, 2019, Verizon Media Group will replace the Oath brand, representing our strong alignment as a core pillar of Verizon’s business.
“This quarter, we’ve made it easier for people to access our unparalleled diversity and quality of consumer products, while making it easier for advertisers and publishers to solve their business challenges with the recent launch of our unified ad platforms. We've built on this strong foundation and set our advertising solutions apart by introducing over 20 new features this quarter, including engaging ad formats and unique supply such as digital OOH, connected TV and programmatic audio.
“These are the building blocks of how we will continue to evolve our member-centric ecosystem with much more to come. I look forward to 2019 and what we will accomplish together as Verizon Media Group.”
