Yahoo To be Named Altaba, Merissa Mayer to Leave Post Verizon Deal
Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon.
Yahoo CEO Marissa Mayer delivers her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada in this January 7, 2014, file photo. REUTERS/Robert Galbraith/Files
Yahoo Inc (YHOO.O) that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc (VZ.N).
Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for $4.83 billion.
The terms of that deal could be amended - or the transaction may even be called off - after Yahoo last year disclosed two separate data breaches; one involving some 500 million customer accounts and the second involving over a billion.
Read more: Jet White Apple iPhone to Release Soon?
Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches.
Five other Yahoo directors would also resign after the deal closes, Yahoo said in a regulatory filing on Monday.
The remaining directors will govern Altaba, a holding company whose primary assets will be a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd (BABA.N) and 35.5 percent stake in Yahoo Japan.
The new company also named Eric Brandt chairman of the board, effective Jan. 9.
Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!
*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
Recommended For You
- PUBG Teases 'Awesome Patch' And Night Mode For Vikendi Map: Everything You Need to Know
- Upcoming Tata Merlin LSV for Indian Army Can Make the Safari Storme Look Tiny
- Who Has Seen That Film: Kangana Ranaut on Manikarnika Being Compared to Hrithik Roshan's Mohenjo Daro
- France Fines Google €50 Million For Violating Data Privacy Rules As Defined by The GDPR
- TRAI’s New Rules For Cable & DTH: Everything You Need to Know Ahead of the Feb 1 Deadline
- 01 d
- 12 h
- 38 m
- 09 s