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Major Changes Planned for Yahoo! Inc. (YHOO): What Does Altaba Mean?

Major Changes Planned for Yahoo! Inc. (YHOO): What Does Altaba Mean?”

Yahoo will adopt a new corporate identity and slash the size of its board if the proposed $4.8 billion sale of its digital services to Verizon Communications goes through.

According to Reuters, after the sale is complete the company will make the name change, Yahoo said in a regulatory filing.

The Yahoo-Verizon deal is a little confusing.

Current chief executive Marissa Mayer is expected to remain with Yahoo's core business if the takeover goes ahead. Yahoo noted in the filing that the departures are "not due to any disagreement with the company on any matter relating to the company's operations, policies, or practices".

The move comes amid news that the deal with Verizon was thrown into doubt following a fresh hacking scandal at Yahoo which was revealed last month.

Ms Mayer had said in the post: "For me personally, I am planning to stay".

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Also, no surprise, the 17-inch model is a bit of a whale at over 8 pounds, contrasted with the 15-inch model's 5.5 pounds. That's in part because the 17-inch model has a heftier 93 Wh battery (compared to the 15-inch model's 43 Wh version).

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"The Board also determined that, following the Closing, it intends to cause the Company's name to be changed to Altaba Inc.", Yahoo!

The board named Eric Brandt, who is one of the new members of the 11-person board, as the new chairman. This led to some reports suggesting that Verizon was thinking of backing out of the deal, or at least asking Yahoo for a $1-billion discount.

According to a filing with the US Securities and Exchange Commission, Mayer, Filo, and several other board members are stepping down.

It has already been reported that following the first of the two hack disclosures, Verizon was in renegotiation talks with Yahoo over the acquisition deal. The latter recently announced it was taking the Chinese department store Intime Retail private in a $2.6 billion deal. Altaba will be left with a 35.5% stake in Yahoo Japan, a 15% stake in Alibaba as well as a portfolio of patents under the Excalibur name.



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