Yahoo to become Altaba if Verizon closes on deal; Marissa Mayer to depart after sale

Yahoo to become Altaba if Verizon closes on deal; Marissa Mayer to depart after sale
While it is still unclear whether Verizon will proceed with its $4.8 billion bid to buy Yahoo, the latter is already making plans in case the deal closes. In the case that Big Red goes ahead with the purchase, Yahoo will change its name to Altaba. The size of the board, currently at 10, would be cut in half to five as CEO Marissa Mayer and four others will resign.

Verizon will receive the email platform, apps, websites and all advertising technology used by Yahoo. The deal was officially announced by both firms on July 25th. The price of $4.8 billion is a far cry from the $100 billion market cap that Yahoo sported back in 1999-2000.

Verizon, though, is considering pulling out of the deal. More than 1 billion Yahoo accounts were hacked into and the carrier's General Counsel Craig Silliman has been combing through the information related to the hacking, trying to determine whether Verizon should walk away or re-negotiate the price.

Verizon originally wanted to close the deal in the current quarter, and from the sounds of things it seems that the company still wants the deal to go through. Whether it happens at $4.8 billion is another question altogether. 

source: Yahoo

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11 Comments

1. Dr.Phil

Posts: 2209; Member since: Feb 14, 2011

Resign? She should've been fired a long time ago for running Yahoo into the ground. She's right up there with Stephen Elop, who ran Nokia into the ground, as one of the worst CEOs to ever take helm of a tech company.

5. trojan_horse

Posts: 5868; Member since: May 06, 2016

And she was touted to be the brave female CEO to turn things around at Yahoo during her appointment... She now turned out to be even worse than the previous CEO!

11. ibend

Posts: 6747; Member since: Sep 30, 2014

at least she is a female

2. Arthurhkt

Posts: 713; Member since: Apr 19, 2012

It would be better if Apple bought Yahoo, all they left is official email client and they are good to go, well just my opinion anyway.

4. JC557

Posts: 1913; Member since: Dec 07, 2011

Makes sense as they rely on Yahoo! Weather to power their weather app.

3. jeroome86

Posts: 2314; Member since: Apr 12, 2012

That makes 2 of us departing. Verizon go bleep your self.

6. Moose

Posts: 418; Member since: Jan 05, 2015

What a stupid name - Altaba, sounds too much like Ali---, the Chinese e-commerce company. How dumb can you get?? (Phone Arena blocked the use of the last 4 letters of this company's name, hence the dashes)

7. SuperAndroid507

Posts: 361; Member since: Jan 06, 2014

She is gorgeous.

8. civicsr2cool

Posts: 241; Member since: Oct 19, 2016

Anyone know how to painlessly yahoo mails over to gmail?

9. SuperAndroid507

Posts: 361; Member since: Jan 06, 2014

Long time ago when I switched to gmail also, I used Thunderbird mail client. At that time it was the only safe tool I found that allowed me to connect to yahoo and download all folders. You might start with that.

10. RangoX

Posts: 75; Member since: Feb 20, 2015

The only thing by Yahoo! that I use is Tumblr.

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