As of last week, Verizon owns Yahoo. Combined with AOL, OnCue, Complex Media, and EdgeCast, Verizon has spent north of $10 billion to amass a fairly formidable combination of assets in the media/content/ad tech spaces. Now what?
So far, three big things have happened, related to the Yahoo close. Verizon announced that the name of the combined AOL and Yahoo will be called “Oath”. Fortunately, the brands will not go away, because Oath is almost as bad as “Tronc” (the combined assets of the Tribune Publishing Co.). In late April, AOL head Tim Armstrong announced the leadership team of the combined company, a collection of some of the best and brightest from AOL, Yahoo, and Verizon. And last week, media reported that Verizon will lay off 1,000 employees or more (some 15-20% of the combined companies’ workforce), perhaps not the best news to be reported a day after the Yahoo deal closed.
The reasons for the deal, the collection of assets, and so on have been well reported on and dissected for the better part of a year. Instead, time to play the role of consultant and provide some advice for Messrs. McAdam & Armstrong, and Ms. Walden. Here are a few recommendations.