Several days ago a Verizon exec seemed to suggest that the deal to acquire Yahoo was on the rocks, but that does not appear to be the case anymore. According to a report from TechCrunch who discovered a recent filing with the SEC, it seems that the deal could actually be close to completion which will result in some pretty big changes in the process.
For starters it seems that once the deal is complete, Yahoo’s current CEO Marissa Mayer will be stepping down from the board of directors, along with several others that will see the new board of directors consist of five people: Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith.
It has also been revealed that Yahoo will no longer be known as Yahoo and will instead of called Altaba which will be an investment company. The rest of Yahoo is expected to be integrated with Verizon and Mayer is said to possibly be given a new role in Yahoo’s integration with Verizon, but nothing has been announced yet.
It will truly be sad to see Yahoo go as it has been pretty much a staple of the internet ever since its inception all those years ago. Granted the company isn’t what it once was and the recent spate of hackings certainly did not help with the company’s image, but we guess all good things must eventually come to an end, right?