#verizon

Verizon sold Tumblr, a microblogging and social networking website, to Automattic, the parent company of WordPress. Mullenweg also stated that it would be adhering to the content policy decision made by Verizon. In 2016, Yahoo wrote off about USD 230 million of the platform's value, and Yahoo was then eventually bought by Verizon in 2017. Recently, it was announced that Verizon sold off Tumblr to Automattic for a value estimated at less than USD 3 million, a significant decrease from the value when Yahoo initially purchased. Verizon has announced a new name for the company that will house Yahoo and AOL once the merger is complete - Oath. In July 2016, Verizon announced that it will acquire Yahoo’s operating business for approximately $4.83 billion in cash and will be integrated with AOL. pic.twitter.com/tM3Ac1Wi36— Tim Armstrong (@timarmstrongaol) April 3, 2017 According to NY Times, the Oath brand will apply to the digital media division of Verizon once it has completed the acquisition of Yahoo's internet assets by end of June. Reports have been coming in that Yahoo will be renamed to Altaba when its acquisition by Verizon closes. Read more in our articles including "Verizon sold Tumblr to Automattic, parent company of WordPress" and "Verizon to put AOL and Yahoo under a new name - Oath".