It’s been revealed that former-internet giant Yahoo will lose its name and be rebranded as “Altaba”, following its sale to US cable giant Verizon.
Back in 2016, Verizon agreed to buy a dominant portion of the company, including its blogs and email service, for $4.83 billion.
CEO Marissa Mayers is said to be stepping down from the board of directors once the deal goes through.
It is unknown at this time whether or not she’ll be jumping ship to the Verizon-acquired portion of the company.
In a blog post last year, she stated “it’s important to me to see Yahoo into its next chapter.”
To be clear, it’s what’s left of Yahoo following the deal – the company’s shares in Alibaba and other investments – that’s being renamed to Altaba. It’s unknown whether or not the renaming comes as a result of selling off the Yahoo brand to Verizon or a desire to better distinguish between the two.
It’s very possible (and likely) that Verizon will reuse the Yahoo brand in the divisions of the company it now owns. However, it’s too early in the process to say how.
On a more local level, Australia’s Yahoo7 will fall onto the Verizon-side of the deal.
Up to speed. Yahoo7 will be in new Verizon owned Yahoo. Altaba is new investment holding co. Seven West can renegotiate as part of buy out.
— Seamus Byrne (@seamus) January 10, 2017
