Verizon Believes Yahoo Email Hacking 'Material,' Could Affect Deal (cnbc.com) 14
In the aftermath of disclosure of a mega-breach at Yahoo which affects over 500 million users, Verizon may be looking at a way out of Yahoo's $4.83 billion acquisition deal. From a Reuters report: The company has a "reasonable basis" to believe that Yahoo's massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo. Silliman told reporters that the data breach could trigger a clause that could allow Verizon to withdraw from the deal. "I think we have a reasonable basis to believe right now that the impact is material and we're looking to Yahoo to demonstrate to us the full impact. If they believe that it's not then they'll need to show us that," he said.
Good enough for me (Score:5, Insightful)
Yahoo knew, and didn't disclose. Presumably, they also didn't disclose the NSA stuff, either (though something tells me that, being a telecom, Verizon wouldn't actually have a problem with that one). The email platform (and associated user base) is one of the few things that Yahoo still has that is worth anything, and its value has likely been irreparably damaged. Verizon should definitely be able to walk away clean from this.
buy to shut down price: $1 (Score:2)
Verizon already has one greybeard portal, AOL. they will gain more by shutting down the other creaky old man of The Commercial Connected Internet than by trying to maintain it and merge it. start poaching talent and change their offer to one thin buck.
Re: (Score:3)
The email platform (and associated user base) is one of the few things that Yahoo still has that is worth anything
While that is true, the value may be falling by the day. My (non-US) ISP used Yahoo as their email platform, but when the NSA stuff came out, they started the process of bring it all back in house.
Actually now that I think about it, they moved quickly on that, I wonder if they had prior knowledge?
Free data? (Score:5, Funny)
If Verizon is so hot to get all of Yahoo's customer information, why don't they just hack in like everyone else?
Wow (Score:1)
It was super-convenient that this happened giving Verizon an out.
From: mmeyers@yahoo.com (Score:5, Funny)
Haha! Can you believe these suckers are paying this much for our shitty company? Hopefully they don't find out about our massive data breach. Which reminds me: I still need to change my password.
Unless Yahoo had disclosed this to Verizon... (Score:3)
Unless Yahoo had disclose this to Verizon of course this would affect the deal. No news here.
After failed renegotiation... (Score:2)
After Verizon's failed attempt to renegotiate the deal failed, this was the obvious next step for Verizon - step back, re-evaluate decision, and make new lower offer for Yahoo. Of course, there's a chance someone else will "snap up" Yahoo, but there's no reason to overpay for Yahoo.