Latest in Culture

Image credit: Reuters/Brendan McDermid

Verizon reportedly reduces its Yahoo offer by $250 million

It's the price Yahoo might have to pay for its two major hacks.
497 Shares
Share
Tweet
Share
Save

Sponsored Links

Reuters/Brendan McDermid

Verizon's $4.83 billion Yahoo acquisition could end up costing closer to $4.6 billion, Bloomberg reports. The discount comes after two high-profile Yahoo hacks came to light last year, which affected more than a billion user accounts. Earlier reports suggested Verizon could be seeking $1 billion off the acquisition price, and that was before Yahoo revealed its second (and even larger) data breach in December.

While lowering the deal price by $250 million might appear significant on paper, it seems a bit low given the extent of the data breaches, and the fact that Yahoo was so slow to acknowledge them. It's still unclear when Verizon will actually submit its revised acquisition offer, but it sounds like we'll be hearing something soon. Verizon representatives declined to comment about the report.

Verizon owns Engadget's parent company, Verizon Media. Rest assured, Verizon has no control over our coverage. Engadget remains editorially independent.

Source: Bloomberg
In this article: business, culture, verizon, Yahoo
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
497 Shares
Share
Tweet
Share
Save
Comments

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr