Reports are emerging that Verizon’s purchase of Yahoo won’t be stopped by the hacking revelations from last year. However, the price tag will likely have a visible dent. In the fall, Yahoo revealed intrusions in which hundreds of millions of accounts may have been compromised in 2013 and 2014.
The two companies have been haggling over what damage the security breaches have done to Yahoo’s value, and it looks like the number they will put on that is about $300M. That’s somewhere around a 6% discount to the original $4.8B purchase price that Verizon agreed to.
If true, it’s somewhat less than I thought it might be, although $300M isn’t exactly pocket change. The markets seem to have been thinking similarly, and the stock rose on the rumored number. Verizon’s appetite for content isn’t a passing fancy, however, and in the wake of the now-pending Time Warner deal over at AT&T they clearly weren’t ready to go back to the drawing board.
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Categories: ILECs, PTTs · Mergers and Acquisitions
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