Yahoo to be Renamed to Altaba After Verizon Acquisition

Yahoo has been in a bad mood for years now, and was up for sale early last year. Many companies were bidding on how much they will buy the company. After all biddings from various companies, it turns out that Verizon communications are the one buying the company.

Yahoo will be redesigned with many changes and its identity will be changed to the preference of the new company Verizon. It is said that some workers/board members will be sacked, and part of the company will be renamed to Altaba. Sounds somehow right?

Yahoo! will be renamed to Altaba Inc after it hands over its website, mobile apps, emails and advertising tools to the new owners, which is Verizon Communications. According to the proposed $6.5 billion ($US4.8 billion) sale of its digital services to Verizon Communications. This sale of Yahoo was caused by the recent hacks that involved the exposure of over 1Billion Yahoo accounts.

Yahoo CEO Marissa Mayer, cofounder David Filo, and three other directors will step down. For the new Altaba, Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith will remain with Brand, serving as Chairman. Word has it that the new company will be an “investment company.”

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