Pledging a new oath
Verizon now owns Flickr as part of the US$4.48Bn Yahoo! acquisition.
Verizon has confirmed its acquisition of Flickr as part of the Yahoo! asset acquisition in a massive US$4.48 billion deal. Rumors dating back to 2015 were afloat about Flickr potentially being up for sale, and now it’s become a reality.
Verizon was initially supposed to ink a deal of US$4.8 billion, but lowered the bid following the series of security breaches on Yahoo! services. But with the high CEO turnover rate and the instability of its direction, it’s possible that Yahoo! was keen of letting it go in the first place.
Now that Verizon owns both AOL and Yahoo!, the company has combined them into a single service, called Oath led by AOL CEO Tim Armstrong. But the company also said: “You won’t see Oath anywhere. We lead with the brands – yours and ours.” It sounds like everything else besides the Oath name will remain intact; the pricing of Flickr will remain unchanged, as will your Yahoo! email addresses.
With that said, there’s a possibility that its new owners may look to shake things up with new features, but that still remains to be seen.
Tim Armstrong, CEO of Oath.