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Despite hiccups, Yahoo\u2019s planned sale to Verizon\u00a0appears to be moving forward \u2014 but some portions of the company will be left behind and renamed Altaba Inc.<\/p>\n
Yahoo is hanging on to its 15 percent stake in Alibaba and its 35.5 percent stake in Yahoo Japan, and those assets will survive as an investment company under the new name Altaba Inc., as the rest of Yahoo integrates with Verizon. The assets had previously been nicknamed Remain Co<\/a>.<\/p>\n Only five board members will remain at Altaba:\u00a0Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. The rest of Yahoo\u2019s board, including CEO Marissa Mayer, will step down from the newly formed company. Mayer may be tapped for a role in Yahoo\u2019s integration at Verizon, but her position has yet to be announced.<\/p>\n The news of the name change comes in a filing<\/a> with the Securities and Exchange Commission. The filing is an indication that Verizon is moving forward with its purchase of Yahoo, which disclosed multiple security breaches last year affecting more than 1 billion users<\/a>. Verizon reportedly considered asking for a discount on the $4.8 billion deal<\/a> after the breaches were disclosed, and a discounted price may still be announced before the deal closes. It\u2019s also possible that the deal might be cancelled outright. (Disclosure: Verizon owns AOL, which owns TechCrunch.) <\/p>\n Yahoo \u2014 or, should we say Altaba now? \u2014 also acknowledged in its SEC filing that the security breaches may imperil the deal with Verizon. The company noted \u201crisks that Verizon may assert, or threaten to assert, rights or claims with respect to the Stock Purchase Agreement as a result of facts relating to the security incidents disclosed on September\u00a022, 2016 and December\u00a014, 2016 and may seek to terminate the Stock Purchase Agreement or renegotiate the terms of the Sale Transaction on that basis.\u201d<\/p>\n More clues about how Yahoo\u2019s cybersecurity problems will impact the sale are expected to come during Yahoo\u2019s earnings call later this month.<\/p>\n <\/p>\n Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/BZV-lYlEOc0\/<\/p>","protected":false},"excerpt":{"rendered":" Despite hiccups, Yahoo\u2019s planned sale to Verizon\u00a0appears to be moving forward \u2014 but some portions of the company will be left behind and renamed Altaba Inc. Yahoo is hanging on <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-2716","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t