Verizon continues to dominate the headlines owing to its decisions and prior entanglements with issues and crisis. Reports have surfaced that Verizon was able to hack $350 million from its Yahoo deal. Despite the data breaches, the tech firm pushed on. Claims have even surfaced that Microsoft lost the bid to Verizon.
Reuters reported that Verizon has lowered its purchase price for Yahoo's core business by $350 million, down to $4.48 billion. While the deal between Yahoo and Verizon gained momentum last July 2016, but progress on the acquisition was pretty slow pace owing to the breaches that have hounded Yahoo for more than 6 months.
9TO5Mac added that under the new terms, Yahoo remains responsible for liabilities from shareholder lawsuits and SEC ingestions due to the data breaches, while the two companies will split cash liabilities related to "some government investigations and third-party litigation."
As for when the deal will close, Verizon and Yahoo said today that they expect everything to be finalized in Q2 of this year and though, the data breaches may delay "some integration of Yahoo with Verizon after the closing," as further noted by the same post.
More details regarding the deal between Verizon and Yahoo indicated that the transition will finish within the second quarter of 2017. Additionally, Verizon aims at utilizing Yahoo's 1 billion-plus monthly user base, along with its 600 million mobile users including AOL's audience.
"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 EVP and president of product innovation and new businesses said in a statement.
As for the claims tangling Microsoft, that speculation has no basis and should be taken with a grain of salt in mind because Verizon and AOL have closed the deal and is now in transition.
