News

Verizon Slashes Yahoo Deal Price By $350 Million

Feb 27, 2017 08:59 PM EST

April Kirstin Chua(staff@moneytimes.com)

Facebook Twitter Print Email

Verizon and Yahoo have entered and signed an agreement that cuts the original $4.83 billion acquisition price for Yahoo by $350 million. The deal comes months after Yahoo had been hit by two massive cyber-attacks.

Under the new terms of the deal, Verizon and Yahoo will split the cost of lawsuits arising from the data breaches. Yahoo is reportedly under investigation by the United States Securities and Exchange Commission for potentially taking too long to inform the company's investors about the breaches. But Verizon has not lost faith in Yahoo's one billion active users and believes the acquisition still makes strategic sense.

"We look forward to moving ahead expeditiously so that we can quickly welcome Yahoo's tremendous talent and assets into our expanding portfolio in the digital advertising space," Marni Walden, Verizon's executive vice president, said in a statement. Verizon wants to incorporate Yahoo's mobile video and advertising tools with its AOL unit. Verizon sees this as sources of revenue outside a crowded telecoms market in the US.

The acquisition is part of Verizon's strategy to boost its digital advertising as it competes with search engine site Google and social media giant Facebook. Verizon's push to purchase Yahoo's operating business was delayed after its breach revelations but is apparently moving on again. "It is an important step to unlock shareholder value for Yahoo, and we can now move forward with confidence and certainty," Yahoo CEO Marissa Mayer said in a statement.

Further to the revised deal, Yahoo and Verizon will be responsible 50 percent each of any liabilities arising from any investigations and third party litigation related to the data breaches. Yahoo will be solely responsible for any liabilities arising from shareholder lawsuits and Securities and Exchange Commission investigations. Walden said the agreement provides a fair and favorable outcome for shareholders.

Facebook Twitter Print Email

Latest Stories

7 Unique NFT Use Cases For The Interested Investor

And the world of NFTs expands far beyond art and collectibles. A new era of tokenized digital assets is being created using the blockchain. Here are seven unique NFT use cases that the interested investor should know.

10 little Things that will Make a Big Difference in Your FX Trading

However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.

Best Risk Management Strategies From Top Traders

o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.

How To Install Payroll for Remote Workers?

One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers

Temperature Rising: South Florida’s Real Estate Market is Hot, and Matias Alem is the Broker to See

BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.

Must Read

Seeking to Conquer the Stigma: How Ryan Early is Promoting the Agricultural and Mental Benefits of Hemp and Cannabis

Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.

Why Your 401(k) and Crypto Investments are Keys to Your Future, According to Finance Guru Joy Mbanugo

Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.

How Sartoris Digital and Founder Nick Collins are Proving the Digital Marketing Industry is for Everyone

When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.

Relationships and Forging Your Path: Barry Gabster, Founder of InitiateU and Bestselling Million Dollar Identity Author

Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.

Learning Opportunities of Micro Trading Accounts

If you think that the micro accounts are useful only for beginners who may not be able to cope with the fast dynamics of changing quotes on trading platforms, then this is not so. Professionalism grows out of these cent accounts.

Stay Connected with Money Times

` `