After Yahoo security breaches, Verizon reportedly drops offer by $250m

According to a Bloomberg report, Verizon Communications, which previously agreed to pay $4.8 billion for the tech giant, has now renegotiated the price as a result of the highly publicized hacks that rocked Yahoo late previous year.

Verizon hopes to combine Yahoo's search, email and messenger assets, as well as advertising technology tools, with its AOL unit, which Verizon bought in 2015 for $4.4 billion.

More negotiations continued and it was determined that Verizon would acquire the Internet giant for $250 million less than what the original deal dictated. That alarmed Verizon officials, who immediately launched their own investigation into the losses. Reuters reports that the final price reduction could in fact be as high as $350 million. The New York Times later reported that the discount may be closer to $300 million. Bloomberg further notes that in addition to the new terms of the deal, Verizon and Yahoo (which will be renamed Altaba, Inc.) will "share any ongoing legal responsibilities related to the breaches".

Technical Glance At Tech Stocks: Verizon Communications Inc. (VZ), AT&T Inc
Verizon Communications Inc. (NYSE:VZ) witnessed a decline in the market cap on Tuesday as its shares dropped 0.58% or 0.28 points. Guidant Wealth Advisors purchased a new position in Verizon Communications during the third quarter worth approximately $107,000.

In September 2016, Yahoo announced that at least 500 million users were affected by a late 2014 cyber-hacking incident led by a "state-sponsored" actor.

Following reports of a revised deal, Yahoo's stock jumped $0.57 (1.27%) to $45.59 early Wednesday afternoon, while Verizon slipped down $0.30 (0.61%) to $47.98. If Evita Breadsticks can sell her flaming pile for more than $4 billion, we will have to take back nearly everything we've ever said about her* before she takes a deserved senior role in the Mnuchin Treasury Department. It could be argued that this reflects just how little Verizon values Yahoo!

To which Marissa Mayer is obviously responding "That's all?!?!..."

Related Articles

  • Francesa: Charles Oakley Emerges As Winner In Dispute With James Dolan

    Oakley was charged with three counts of misdemeanor assault and one count of criminal trespassing, an NYPD spokesman told Patch. The affair was made uglier as Knicks fans serenaded their team with various pro-Oakley chants later in the week.
    Netflix Reveals That Nearly Half of All Couples Cheat

    Netflix Reveals That Nearly Half of All Couples Cheat

    Meanwhile, Netflix cheating has become more socially acceptable over time with 46 percent saying its "not bad at all". It happens to the best of us: You start watching a show with your significant other and you're both really into it.
    Yale to Rename Calhoun College After Pioneering Computer Scientist Grace Hopper

    Yale to Rename Calhoun College After Pioneering Computer Scientist Grace Hopper

    Criminal charges have since been dropped and Yale has rehired Mr Menafee, who had described the image as offensive. Calhoun, the nation's seventh vice president, attended Yale and was its valedictorian. "Just last week, (U.S.
  • FEC official wants proof of New Hampshire voter fraud claims

    FEC official wants proof of New Hampshire voter fraud claims

    Kelly Ayotte, who has handled Gorsuch's confirmation process for the White House. "Allegations of this magnitude can not be ignored".
    Court orders arrest of ex-president Alejandro Toledo

    Court orders arrest of ex-president Alejandro Toledo

    The government of Peruvian President Pedro Pablo Kuczynski was pressuring the United States to change its mind, the source said. But his former vice president, David Waisman - himself a prominent member of Peru's Jewish community - said that was untrue.

    Winter storm could drop a foot of snow on Northeast US

    A bigger, more widespread storm could bring more than that Saturday night into Monday morning, especially in Central New York . Temperatures are expected to remain cooler for the rest of the week, with a high near 30 degrees and sunny skies on Friday.
  • Lake water levels dropping as crews work on damaged dam

    The threat emerged after weeks of storms dumped rain and snow across California, particularly in northern parts of the state. He says the lake behind Oroville Dam also is capable of handling additional rain from an expected storm this week.

    The Mitsubishi Eclipse is back... well, sort of

    Mitsubishi pulled the plug on the plant altogether then shut it down a year ago , according to Automotive News . The new auto is built around a shortened version of the Outlander architecture.

    Rahul Gandhi says PM likes peeping into bathrooms

    The first of the five-phase assembly polls in India's largest state began at 8 a.m. local time and will continue till 5 p.m. Mr Gandhi, along with Samajwadi Party chief Akhilesh Yadav, was addressing a joint presser in Lucknow .
  • Syrian rebels get last minute invite to peace talks in Astana

    Syrian rebels get last minute invite to peace talks in Astana

    Rebels will send the same delegation to Thursday's talks, headed by Mohammad Alloush of the Islam Army rebel group. Jordan will also be represented by a "high-level delegation", government spokesman Mohamed Momani said.

    More than 1000 MI bridges in poor condition

    Bridges are rated on a scale of one to nine for their soundness, and a rating of four or below puts it in the deficient category. They're a familiar sight on every commute, but now a new study says thousands of American bridges are in disrepair.
    Earthquake Rocks Surigao in Philippines; At Least 6 Dead

    Earthquake Rocks Surigao in Philippines; At Least 6 Dead

    Houses, roads, bridges in Surigao del Norte province and a school in Surigao city were damaged, with blackouts also experienced. An injured woman is accompanied by family members at a hospital in Surigao City, early Saturday.