Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on Linkedin So its end of an ERA :Yahoo as we all know is no more now. While we already knew most of the venerable company was being sold to Verizon – a $4.8 billion purchase – the remainder of company today announced that it’s renaming itself to ‘Altaba,’ according to TechCrunch. According to a filing with the SEC, all but five of Altaba’s board of directors will step down upon the conclusion of the deal, namely David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, Maynard Webb, and Marissa Mayer. While there’s nothing preventing Mayer from having a role in the restructured company, nothing has been announced yet. Interestingly portion of the company that maintains a 15 percent ownership of Alibaba and 35.5 percent stake in Yahoo Japan. Altaba will operate as an investment company from here on out. As far as name is concerned, It’s sounds a bit like a portmanteau of defunct 1990’s search engine Altavista and Alibaba, both of which are either partially or wholly owned by the company. The news of the name change comes in a filing with the Securities and Exchange Commission. The filing is an indication that Verizon is moving forward with its purchase of Yahoo, which disclosed multiple security breaches last year affecting more than 1 billion users. Verizon reportedly considered asking for a discount on the $4.8 billion deal after the breaches were disclosed, and a discounted price may still be announced before the deal closes. It’s also possible that the deal might be cancelled outright Yahoo — or, should we say Altaba now? — also acknowledged in its SEC filing that the security breaches may imperil the deal with Verizon. The company noted “risks that Verizon may assert, or threaten to assert, rights or claims with respect to the Stock Purchase Agreement as a result of facts relating to the security incidents disclosed on September 22, 2016 and December 14, 2016 and may seek to terminate the Stock Purchase Agreement or renegotiate the terms of the Sale Transaction on that basis.” More clues about how Yahoo’s cyber security problems will impact the sale are expected to come during Yahoo’s earnings call later this month.