Source: Ethan Miller / Getty
According to USA Today, Yahoo, one of the internet’s early brand giants, will soon be no more, with its name to change to Altaba once Verizon completes its $4.8 billion acquisition of the company that was announced last summer.
The sale includes Yahoo’s operating business, but it didn’t include the big piece of Chinese e-commerce site Alibaba owned by Yahoo, and it didn’t include certain other assets, mostly shares of Asia-based companies and non-core patents.
What remains, according to paperwork filed yesterday (January 9th), will be put into a publicly-traded investment company called Altaba. Many key executives, including Yahoo CEO Marissa Mayer, will be leaving. Verizon’s move comes after it paid $4.4 billion for AOL in 2015.
