Despite the numerous setbacks that Yahoo has dug itself into throughout 2016, it appears that the Verizon will officially be taking control of a huge chunk of Yahoo’s assets soon. What does that mean for the company as a whole? For starters, it appears that the company itself will be renamed to Altaba.
While Verizon’s purchase of Yahoo means that a huge chunk of the company’s operating business will wind up with the American telco company, some of Yahoo’s assets were left well alone. The remaining assets such as Yahoo’s 15 percent stake in Alibaba and its 35 percent stake in Yahoo Japan will be held by Altaba which is referred to by the U.S. Securities and Exchange Commission paper as an “investment company”.
The change in Yahoo’s structure will also see the departure of many key executives of the company, including Yahoo CEO Marissa Mayer and co-founder David Filo. While Mayer will no longer be leading Yahoo after Verizon completes its takeover of the company, she will still be around in some capacity.
As for the Yahoo brand itself, the name will continue to exist under the Verizon umbrella. However, what Verizon intends to do with the Yahoo name is currently unknown.
Source: Ars Technica, Business Times
