In a SEC filing, Verizon is moving forward with the $4.8 billion acquisition of Yahoo! which will later be integrated with AOL, a company that Verizon acquired for $4.4 billion on May 12, 2015.

Once the sale is close, part of Yahoo! will remain and will be renamed as Altaba Inc., that part will be their 15% stake in Alibaba and 35.5% stake in Yahoo! Japan. In an article by TechCrunch, Yahoo will be renamed as Altaba Inc. and become an investment company with assets composed of their 15% stake in Alibaba and 35.5% stake in Yahoo! Japan.

Yahoo’s homepage

Marissa Mayer will step down as Yahoo’s CEO and five (5) board members will remain with AltaBa Inc. Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. It still unclear what will be Mayer’s new role but at this point, I won’t be surprised if she decides to be on a hiatus.

The Yahoo – Verizon deal still has a long way to go, and with Yahoo’s current online security problems and after multiple security breaches, Verizon might still request that discount, which will be announced once the deal is close.