Verizon has reportedly cut Yahoo’s price by up to $350 million
Ethan Miller/Getty
Yahoo and Verizon agreed to cut their deal price by up to $350 million following Yahoo’s disclosures of two data breaches, according to The Wall Street Journal.
The companies also agreed to split the costs of the breaches, according to the report.
Bloomberg reported last week that Verizon had tentatively reached a revised deal that lowered Yahoo’s price by about $250 million.
Verizon agreed to buy Yahoo’s ailing internet business last July for $4.8 billion.
Yahoo said in January that the breaches, which affected more than a billion user accounts, could result in the termination of the deal. However, Verizon CEO Mowell McAdam chose to move ahead with the deal because it would help the wireless carrier take on Google and Facebook, the Journal reported.
By following through, Verizon will be able to expand its targeted advertising platform. Verizon could also become a major media company by owning the extensive reach of Yahoo’s news, sports, and finance sections.
The Securities and Exchange Commission (SEC) is investigating whether Yahoo should have told investors about the hacks sooner.
NOW WATCH: Here’s why malls across the US are dying
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
>To continue reading click link or copy paste the links to web server http://ift.tt/2liyKyH✍ Sumber : ☕ Business Insider
Enjoy and dont forget to 👍 Like & 💕 Share!
Post a Comment