New Math: AOL + Verizon = Oath

Oath will be the new brand name of a unit of Verizon that will combine AOL with Yahoo, Business Insider first reported Monday.

Tim Armstrong, AOL’s CEO, soon followed by confirming word of the coming brand change, including the new logo, via Twitter, while also noting that more details will be revealed this summer:

Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017.

— Tim Armstrong (@timarmstrongaol) April 3, 2017

Verizon originally agreed topurchase Yahoo’s Internet business last July for $4.83 billion, but the price on the pending deal was recently reduced by $350 million amid high-profile data breaches at Yahoo.

RELATED: Verizon, Yahoo Agree to Slash Merger Price by $350M

Verizon last week announced a new corporate structure ahead of the closing of the proposed Yahoo deal. Among the moves, Marni Walden was named EVP for Media and Telematics, a unit that will include the AOL and Yahoo assets.