Yahoo Sold To Verizon… Will Change Name… Mayer Is Out

Well, the gong show that is the sale of Yahoo to Verizon seems to be over. Here’s what’s going to happen now according to the Wall Street Journal:

  • The Yahoo board will eventually cease to exist.
  • Yahoo CEO Marissa Mayer and co-founder David Filo are gone from their posts. The former will remain with Verizon after the deal is done.
  • Yahoo will change its name to Altaba.
  • Eric Brandt will become chairman of Altaba

  • Verizon will pony up $4.8 billion

What’s left of Yahoo after the sale will just be an investment holding company. Changing it’s name to Altbaba gets rid of the fact that the Yahoo brand is tainted. But the thing is that I can’t believe that Verizon paid $4.8 billion. Not only that, Who came up with Altbaba as the name for this dead horse? 

Verizon may regret this purchase. But I am naturally a cynic. Still, this is a watch and see thing.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: