Yahoo one of the giant internet firm is saying goodbye after it has been sold to Verizon the giant telecom for $4.8 Billion. The left over of the company is renaming itself to Altaba Inc.
This is revealed to the public on Monday, the securities and Exchange Commission announced the plan of changing its brand name to Altaba
The remaining company under the new name Altaba Inc. is hanging on to its 15% ownership of Alibaba and 35.5% stake in Yahoo Japan, which is a joint venture with Softbank.
The newly formed company will operate as an investment company, and only five board members will remain at the company including Tor Braham, Catherine Friedman, Eric Brandt, Jeffrey Smith and Thomas McInerney.
The rest of the company's board, including Yahoo CEO Marissa Mayer and co-founder David Filo, will step down from Altaba Inc. Mayer may be appointed for a role in Yahoo's integration at Verizon, though her position has yet to be announced.
So, the company's branding you are familiar with will integrate with Verizon, and it is possible that the telecom titan may continue to use the Yahoo brand for some of the services that it will acquire in the deal.
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