Yahoo’s planned acquisition by Verizon may have gone through some hiccups but the sale looks to be progressing to the next stage. While Verizon will acquire much of Yahoo’s infrastructure, the parts of Yahoo that own a 15% stake in Alibaba and a 35.5 percent stake in Yahoo Japan, will be consolidated under a new brand. Said assets will be housed under Altaba Inc. a new investment company.
With the new name comes a few changes. For instance, only five of the old board members will stay on: Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. The rest of the Yahoo board, along with current CEO Marissa Mayer, will not be a part of the new investment company. It is unsure if Mayer will be part of the Verizon owned Yahoo.
Yahoo has suffered numerous breaches in its security, resulting in the leaks of at least 500 million user accounts back in the September of 2016. Last month along, an even bigger breach affected a billion accounts. Verizon has tried to use the breaches to get a discount on the purchase, which at its last was estimated at $4.8 billion. The deal still hasn’t been closed so a discount may be reached.
