SAN FRANCISCO (AP) — Verizon Communications will create a new company called Oath after it completes its $4.5 billion acquisition of Yahoo and melds the troubled internet company with its AOL operations.

Oath will oversee Yahoo and AOL after the deal is completed. The Yahoo and AOL brands are expected to survive, although Verizon says it won't provide any details about its plans for Oath until this summer.

"You can bet we will be launching one of the most disruptive brand companies in digital," AOL said in a Monday statement.

Tim Armstrong, AOL's top executive, posted a tweet Monday indicating...