AOL and Yahoo combined as Oath company

Verizon plans to combine AOL and Yahoo into a new company called Oath, after completing the acquisition of Yahoo.

AOL chief executive Tim Armstrong confirmed the move on his personal Twitter account ahead of a planned publicity campaign.

The tweet read: "Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017."

However, the new name is already being ridiculed online, with one site saying, "At least it's better than Tronc."

Tronc, formerly known as Tribune Publishing, is a US company which owns the Los Angeles Times, Chicago Tribune and other newspaper titles.

Verizon is buying Yahoo's internet business for about $4.8bn (£3.6bn) in cash. The deal is expected to close in the current quarter.

The remaining parts of Yahoo, which includes its 15% stake in Alibaba and Yahoo Japan, will be called Altaba.