Yahoo to change name of major part of its business

The following month, New York-based broadband telecom company; Verizon Communications, Inc. said it was buying Yahoo for $4.8 billion.

Yahoo co-founder David Filo is among the four other members of the board who'll step down after the deal closes, Yahoo said, along with Eddy Hartenstein, Richard Hill, Jane Shaw and Maynard Webb.

A regulatory filing from Yahoo reveals that five Yahoo directors would also resign if and when the deal is finalised, while the remaining directors would oversee the new Altaba Inc firm.

All of these changes will take place after Yahoo's sale to Verizon is completed. But since then, Verizon's executives have hedged about the price after Yahoo disclosed a massive hacking of its users' information that raised questions about whether it had notified users about the breaches quickly enough. Mayer has maintained that she hopes to stay with Yahoo's core operating business (the part that's going to Verizon) despite the sale of its core assets.

The executive, Marni Walden, the product innovation president at Verizon said after being asked if the deal would get done, she said she was not sure one way or the other because it was still unknown.

It's been revealed that former-internet giant Yahoo will lose its name and be rebranded as "Altaba", following its sale to U.S. cable giant Verizon.

According to a filing to the SEC, should Verizon to continue with its takeover plans, the remains of Yahoo will undergo a rebrand to Altaba.

It's fair to say that the Yahoo we have come to know is dead. Yahoo is technically only selling its core business and brand to Verizon, leaving behind a sizable investment in Alibaba and Yahoo Japan.

Yahoo, after a series of re-organisations, decided late past year to sell its main operating business as a way to separate that from its more valuable stake in Alibaba.

  • Eleanor Harrison