Report: Verizon Wants to Lower Price or Back Out of Yahoo Sale

Not too long ago, Yahoo fessed up to a data breach from a few years back that potentially affected millions of accounts. In response, Verizon said that the hack was a "material" occurrence, and would likely affect the outcome of Verizon's pending buyout of Yahoo. While the deal wasn't necessarily off, Verizon would now have to consider just how much damage could come from such a hack, and how to react. Recently, Yahoo announced that a data breach from way back in 2013, undisclosed until now, affected somewhere around 1 billion accounts. It goes without saying that Verizon did not like hearing that, and now an anonymous inside source has come forward to say that a new team has formed within Verizon with the goal of considering how that hack may affect the deal, or if it should be called off, and how to avoid liability, should they go through with the buyout.

As it stands, if Verizon buys up Yahoo, they will technically be responsible for any reparations deemed necessary in the wake of the 2013 hack's revelation. This is exactly the sort of scenario they would like to avoid, of course. Verizon entered into the deal looking for Yahoo's assets and media properties, but were given serious pause when news of the first hack broke. A second breach, especially one of this scale and with the potential liability and industry stigma that it carries, would naturally be cause for concern.

According to the insider that reported on the separate team forming to evaluate the purchase, the integration team that was formed to help with Yahoo's operations and integrate their assets into Verizon is still fully active, though with the purchase not finalized yet, their activities are still in the planning phase. The $4.83 billion buyout is, at this point, in serious jeopardy if this report is true. Should Verizon back down, Yahoo may have a very hard time finding a bidder, and could even be forced to simply cut their losses and dismantle the company. CEO Marissa Mayer has high hopes for a turnaround if they manage to find a good buyer, but the recent news of this gargantuan breach may very well have scared off most would-be buyers, if not all of them.

Copyright ©2019 Android Headlines. All Rights Reserved
This post may contain affiliate links. See our privacy policy for more information.
You May Like These
More Like This:
About the Author
2018/10/Daniel-Fuller-2018.jpg

Daniel Fuller

Senior Staff Writer
Daniel has been writing for Android Headlines since 2015, and is one of the site's Senior Staff Writers. He's been living the Android life since 2010, and has been interested in technology of all sorts since childhood. His personal, educational and professional backgrounds in computer science, gaming, literature, and music leave him uniquely equipped to handle a wide range of news topics for the site. These include the likes of machine learning, voice assistants, AI technology development, and hot gaming news in the Android world. Contact him at [email protected]