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Yahoo to change name after Verizon deal

2017-01-10 02:59 by
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Yahoo announced on Monday that it will change its name to Altaba after the Verizon deal closes. CEO Marissa Mayer will leave once Verizon takes control of its operating business.

In addition to Mayer, several other board members—Yahoo co-founder David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw and Maynard Webb — will also leave.

Verizon agreed in July to pay $4.8 billion for Yahoo's assets and real estate, a deal that's expected to close early this year. That would leave the internet company with its investments in Alibaba Group and Yahoo Japan, along with convertible notes, and non-core patents.

The deal has been jeopardized by Yahoo's recent discovery of two computer hacking attacks that stole personal information from more than 1 billion user accounts during two different intrusions that occurred in 2013 and 2014.

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