Verizon to combine Yahoo, AOL into Oath

In this Tuesday, July 19, 2016 file photo, a cyclist rides past a Yahoo sign at the company's headquarters in Sunnyvale, Calif. (AP Photo/Marcio Jose Sanchez)

Yahoo is about to become history. Verizon confirmed Monday that when its acquisition of the Sunnyvale-based company closes, it will combine Yahoo with AOL and change the name to Oath.

Last June, Verizon announced a deal to buy the struggling Yahoo for $4.8 billion.

The transaction is scheduled to close in the current quarter

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