Verizon is close to renegotiating its deal to acquire Yahoo’s internet assets in light of recent hacks and related controversies, Bloomberg said.
Yahoo headquarters in Sunnyvale, California.
Looks like Yahoo’s hacking controversies will come at a cost.
Verizon, which was initially set to acquire the troubled internet pioneer for $4.8 billion, is shaving about $250 million off that price, according to Bloomberg.
The reason for the discount? Verizon has reportedly been trying to renegotiate the deal ever since Yahoo and CEO Marissa Mayer revealed the company was hit by two big cyberattacks, in which users had their passwords and personal information swiped.
One of them, disclosed in September, occurred in 2014 and affected 500 million user accounts. When it was announced, it was thought to be the biggest cyberattack of all time. Three months later, Yahoo outdid itself and disclosed a hack that affected twice that number — a billion accounts. It occurred in 2013.
Verizon declined to comment. Yahoo did not respond to a request for comment.
The price reduction is just the latest setback on Yahoo’s long, winding road from independent to acquired company.

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