Summits Yellow

Verizon Reportedly Closing in on Lower Price Yahoo Deal

Tyrone Stewart

yahoo and verizon logo irlVerizon is reportedly close to finalising a renegotiated deal for Yahoo’s core internet for $250m less than the original agreed price of $4.8bn, following the revelation of two large-scale data breaches at the multinational technology company.

According to Bloomberg sources, as part of the new deal, what remains of Yahoo – to be renamed Altaba – is expected to share any legal responsibilities related to the two huge data breaches in 2013 and 2014 respectively.

The announcement of the new agreement could come within the next few days or weeks, however, the amended deal is not final and could still change – according to the sources.

California-based Yahoo revealed the first of its data breaches back in September. The breach, which occurred in late 2014, was at the time the biggest data breach announced in history – as 500m accounts were comprised. However, Yahoo beat this record a year earlier – revealed in December – when 1bn accounts were compromised in August 2013.