Verizon may want a $1 billion discount on Yahoo
Verizon may be getting cold feet with its acquisition of Yahoo. Reportedly, it’s asking for a $1 billion discount on the original $4.8 billion deal for the Internet company.
Recent news about Yahoo’s massive data breach and its alleged secret email scanning program has diminished the company’s value in the eyes of Verizon, according to a Thursday report by the New York Post.
Tim Armstrong, the head of AOL, which Verizon acquired in 2015, reportedly has met with Yahoo executives about reducing the acquisition price.
“He’s pretty upset about the lack of disclosure and he’s saying can we get out of this or can we reduce the price?” the report said, quoting what it called a source familiar with Verizon’s thinking.