YAHOO IS TO BE CALLED "ALTABA" AS ITS NEW NAME

Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for $4.83bn dollars.

The terms of that deal could be amended – or the transaction may even be called off – after Yahoo last year disclosed two separate data breaches; one involving some 500 million customer accounts and the second involving over a billion.

Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches.

Five other Yahoo directors would also resign after the deal closes, Yahoo said in a regulatory filing.

The remaining directors will govern Altaba, a holding company whose primary assets will be a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding Ltd and 35.5 per cent stake in Yahoo Japan. The new company also named Eric Brandt chairman of the board, effective Jan. 9.