Yahoo to be named Altaba, Mayer to leave board after Verizon deal

The tech firm as we know it is gone, even the name of its holding company.

Yahoo! will now be known as Altaba, Inc. - an investment company. VZ is completed, there will be quite a few changes made to the combined company.

No, not yet. Yahoo said Monday that it would reduce the size of its board of directors after the acquisition of Yahoo's core business by Verizon Communications.

Other than Mayer and Yahoo co-founder David Filo, there will be another four members of the board who will no longer be there once the deal is done. Eric joined the board of Yahoo last March. He is a former finance chief of semiconductor company Broadcom.

According to Bloomberg, several directors affiliated with Yahoo for a long time are leaving the board of the investment company.

It is now confirmed that after completion of the merger with Verizon, Yahoo's CEO Marissa Mayer will quit the board.

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Verizon is investigating the data breaches.

Analysts have predicted that if Verizon does buy Yahoo, it will be at a significant discount from the initial $4.8 billion price.

While Mayer may have indicated she is stepping down from the board, this is a formality that indicates the Verizon takeover is steaming ahead. While one of the breaches that took place in 2013 involved hackers stealing information of almost 1 billion accounts, the other took place in 2014 and affected almost 500 million accounts.

"I remain hopeful the deal will close, and I think we'll see what the outcomes are of the Yahoo investigations in the meantime", he said.

Yahoo has an earnings call scheduled for later this month when more details about how the data breaches might affect the deal are likely to emerge.

Unnamed sources claim that the name Altaba is a combination of two words: "alternate" and "Alibaba". Altaba is now just a holding company, which owns nothing more than stock and patents. Altaba will also have a 35.5 percent stake in Yahoo Japan. It was not just Twitter and SoundCloud that had a rough time past year.

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