Yahoo is selling its main operating business as a way to separate it from its more valuable stake in Chinese Internet giant Alibaba Group (阿里巴巴), which would become a new entity to be renamed Altaba Inc and would act as an investment company.
Here's a press release from AOL's chief marketing officer...
Verizon's Yahoo deal is expected to be worth just over $4USD billion dollars and their purchase of AOL back in 2015 was also just over $4USD billion dollars. "I love Yahoo, and I believe in all of you".
PS- Never let Marissa Mayer give you name ideas based on "Tronc".
An AOL spokeswoman told Business Insider on Monday that the company has plans to launch Oath in the coming months.
A price cut early this year kept Verizon on track to consummate the purchase of Yahoo's internet business, and share the costs from a pair of epic hacks that threatened to derail the deal.
Lee scores 2 in Islanders' 4-2 win over Sabres
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Yahoo declined to comment.
Yahoo will then be merged with Verizon's AOL unit under Marni Walden - the executive vice president and president of product innovation and new businesses - with Verizon scooping up Yahoo's search, mail, content, and ad-tech businesses.
Yahoo originally agreed to sell its online operations to Verizon for $4.8 billion after years of unsuccessful attempts to boosts its revenue. And in December it admitted to another cyber attack from 2013 affecting more than a billion users.
Last month, the Department of Justice indicted four individuals, including two offices of the Russian Federal Security Service, in connection with the Yahoo hack.
AOL CEO Tim Armstrong revealed the new name of a combined merge of AOL and Yahoo following Verizon's acquisition of Yahoo, and it makes no sense. Mayer will step down from the board of that company once the sale is complete. "We'll put people and brands - ours and yours - first".
Yahoo as we know it may be done.