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.