Verizon reportedly knocks $250 million off Yahoo's asking price

After the revelations, several top officials at Verizon said that the hacks would likely "materially" impact that deal and result in a lower acquisition price.

Internet group Yahoo has reportedly agreed a price cut on its initial $4.8bn (£3.86bn) sale to Verizon. While there was a lot of speculation about the attack and a lot of finger-pointing as well, there were reports that Verizon would seek a discount from Yahoo.

The expected price cut comes after Yahoo issued two disclosures about massive user-data breaches previous year - after Verizon had clinched the takeover deal. The deal also ensures that the leftovers of Yahoo's operations from the deal will be renamed Altaba Inc. and the combined company will have to deal with the legal responsibilities linked to the breaches.

Yahoo CEO Marissa Mayer has presided over a declining business.


Things soon started unraveling with the muddled disclosure of a Yahoo security breach dating back to 2014 in which information for at least 500 million accounts was compromised. This includes the recent reports that a 2013 hack had over a Billion users affected!

The original deal was expected to close in the first quarter of 2017.

Verizon is purchasing Yahoo for its media assets, including its sports and finance content which is still popular with millions of users today.

Yahoo shares were trading up 1.5 percent, to $45.72, in the wake of the report. In the wake of the reported renegotiated deal, which Yahoo last month said would be delayed until the second quarter, the two companies stocks have gone in different directions.

Related News:

  • Knicks legend Charles Oakley no longer banned from Madison Square Garden

    Following what appeared to be a shoving match with a few security personnel, Oakley was then arrested and charged with assault. Whatever Adam Silver and Michael Jordan told New York Knicks owner James Dolan on Monday, apparently it worked.
    Yale drops slavery proponent Calhoun from college name

    Yale drops slavery proponent Calhoun from college name

    In 1930, Hopper had received a master's degree in mathematics and a PhD in mathematical physics and mathematics in 1934. The college will be renamed in tribute to Grace Murray Hopper , a groundbreaking computer programmer who died in 1992.

    The Kushners could be the next owners of the Marlins

    However, the Marlins have struggled to even make the postseason, let alone post a winning record. Kushner's son is Jared Kushner, who is now one of the top aides to President Donald Trump.
  • Mitsubishi names new SUV the Eclipse Cross | New Release

    Mitsubishi names new SUV the Eclipse Cross | New Release

    Known as the Eclipse Cross, the new model will essentially be a production version of the eX Concept. You'll find these stories and more in today's auto news, right here at Motor Authority .
    Peru's wanted ex-president said fleeing to Israel from US

    Peru's wanted ex-president said fleeing to Israel from US

    Alejandro Toledo is alleged to have taken a Dollars $20 million bribe for awarding a lucrative contract to Odebrecht ( La Mula ). The dispute threatens to strain relations between the United States and one of its traditional allies in South America.
    China's exports and imports surge

    China's exports and imports surge

    The country's trade surplus widened last month to 354.53 billion yuan ($51.62 billion) from 275.42 billion yuan in December. Crude oil imports reached 34.03 million metric tons in January, 27.5 percent higher than the same period a year earlier.
  • Cars catch fire in Disneyland parking structure, no word on cause

    Police gave an early damage estimate of $180,000. "I think it was one flight below our auto ", said Adam Habie of Placentia. Videos captured at the scene showed thick black smoke billowing from the structure and into the early afternoon sky.
    Netflix Knows If Your Partner Is Cheating On You

    Netflix Knows If Your Partner Is Cheating On You

    That's triple the rate of "cheating" from a similar Netflix study in 2013. But don't think lecturing your Netflix cheating partner will do any good.

    Aguero says Man City future to be decided at end of season

    The 28-year-old signed a one-year contract extension earlier in the campaign, committing him to the club until 2020. When you're on the bench you have to wait for your opportunity.
  • United States  government closer to clawing $100M from Lance Armstrong

    United States government closer to clawing $100M from Lance Armstrong

    A federal court on Monday ruled that a civil lawsuit brought by the USA government against Lance Armstrong will move forward. Armstrong was said to have run "the most sophisticated doping scheme in sport" by the United States anti-doping agency.

    2017's first eclipse on Saturday, can be viewed from India

    The eclipse will be harder to see than a full lunar eclipse , but will occur during the " snow moon ", or February's full moon . The eclipse will take place over four and a half hours - and will look even cooler because it coincides with the " Snow Moon ".

    John Lynch explains how 49ers personnel control will be divvied up

    Lynch said he developed a good rapport with Kaepernick through the year during their pregame meetings when he was a FOX analyst. New San Francisco 49ers' head coach Kyle Shanahan doesn't plan on hiring an offensive coordinator to his staff.


Most liked

Topshop to recall all display units following tragic death
Kaden was taken to the Royal Berkshire Hospital but died an hour later. 'Kaden was a very creative boy, who loved school'. Reading coroner's office said an inquest had not yet been opened as investigations are still under way.

Featured Stock for Investors: Verizon Communications Inc. (NYSE:VZ)
The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by $0.03. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.95 to $1.05.

"Samsung Galaxy S8+" Official Logo Leaked
On the other hand, 5.1-inch and 5.5-inch QHD Super AMOLED screens are seen in the Galaxy S7 and S7 edge flagships respectively. However, in the U.S. , the smartphone is likely to launch with the Galaxy J7 Sky Pro moniker and not as the Galaxy J7 (2017).

North Korea's missile created to be launched from submarine, officials say
A North Korean ballistic missile test conducted on 12 February has been widely condemned by the worldwide community. North Korea launched a mid-range ballistic missile while Donald Trump met with Japan's prime minister Shinzo Abe.

Guardiola casts doubt over Chelsea and PSG-linked Sergio Aguero's future
Citizens boss Pep Guardiola is missing just one star player going into the clash in Ilkay Gundogan who is out injured. I know how hard it is to find top goalscorers", Guardiola told reporters, including The Guardian .

Show proof of NH rig claim
Ayotte was present because she is leading the "Sherpa" team that is shepherding Gorsuch during the confirmation process. Trump also lost the state to rival Hillary Clinton by about 3,000 votes.

Sleet forecast to turn to snow during the am commute
The storm is expected to clear out by 5 or 6 p.m., and total accumulation is predicted at 10 to 14 inches, de Blasio said. Scores of school districts, including Boston and New York City, had announced on Wednesday that schools would be closed.

4 killed, 108 injured in Surigao quake as aftershocks continue
Share with Us - We'd love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism. Surigao City is known for Basul Island, Ipil-Mabua Pebble Beach, and Zaragoza Rock Formations among other destinations.

People who stood at banks will now queue to reject BJP: Akhilesh
Sharma, however, said that the district administration had fully cooperated with them and that they had not denied them permission.

Russian athlete stripped of London 2012 gold medal
Savinova was also stripped of her 2011 world championship gold‚ another race where Semenya ended second. WADA has since said the Moscow laboratory played a central role in Russia's "state-sponsored" doping.

Oil market 'responding positively' to output cut: OPEC president
Oil has fluctuated above $50 a barrel since a deal to trim output between OPEC and 11 other nations took effect on January 1. If the January level of compliance is maintained, this would lead to draw of 0.6 million b/d, the IEA said.

Federal census: Edmonton cracks 900000 and outpaces regional growth
Ontario's growth rate, despite being much lower than Alberta's by percentage, still included a much larger number of people. The numbers surprised Edmonton economist John Rose, who underestimated the city's population by roughly 20,000.

Keyboard Kimura: UFC 208 could be Holly Holm's redemption
The UFC's first pay-per-view event of 2017 is finally upon us, and it marks an important chapter in the trajectory of the sport. If she can knock off Holm and steal a little of her spotlight on Saturday, that stardom could extend far beyond Dutch borders.

Russian airstrike kills Turkish soldiers in Syria
The Turkish military said in a statement that 58 ISIL fighters had been killed in air raids, artillery fire, and clashes. And Russian jets have on occasion carried out air strikes in Al-Bab in support of the operation.

White House List Contradicts Trump Claim That Terror Attacks Go Unreported
Those perpetrated against Westerners and white people count far more than those against Muslims and brown and black people. Only one bears inclusion on Trump's list - a suicide bombing on a bus carrying guards who worked at the Canadian embassy.