Verizon Will Pay $350 Million Less for Yahoo

Photo

A Verizon store in Chicago. Verizon will pay $4.48 billion for Yahoo, about $350 million less than it initially offered after security breaches that were disclosed last year.



Credit
Christopher Dilts/Bloomberg

SAN FRANCISCO — Faced with unknown costs related to two huge data breaches, Yahoo and Verizon Communications announced Tuesday that they had agreed to shave $350 million from the price that Verizon would pay to buy Yahoo’s core internet businesses.

The two companies said they would also share liabilities related to the breaches, which occurred in 2013 and 2014 but were only disclosed last year after the deal was announced.

The revised agreement, now valued at $4.48…

Read Story