Yahoo paying small price for big hacks

Verizon will savagely slash its acquisition offer for hacker-ransacked Yahoo! by, wait a minute, just 5.2 per cent, it is claimed.

Bloomberg reported Wednesday that Verizon was cutting the price by $250 million; the Wall Street Journal later reported that discount would be $300 million.

Still, Yahoo recently said it expected the deal with Verizon to close in the second quarter.

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But a series of cyber attacks that compromised more than a billion user accounts has led Verizon to reconsider how much it's willing to pay for the Sunnyvale, California, company's core Internet assets, including its search and e-mail features.

Verizon agreed to acquire Yahoo for $4.83 billion in July 2016. That left Mayer, who will be stepping down from the board of the rebranded Altaba once the deal closes, with little to worry about except huge stakes in Chinese e-commerce behemoth Alibaba and Yahoo Japan. Yahoo reported about $5 billion of revenue previous year for its more than 1 billion users. Verizon and Yahoo are now deciding how each will share future liabilities for the cyber attacks.

Last month, it was reported that the US Securities and Exchange Commission had opened an investigation into whether Yahoo! should have reported two massive data breaches much sooner than it did. Verizon didn't comment on the report.

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Yahoo and Verizon have not commented on these latest reports.

Several reports in the United States said Yahoo has now accepted a price cut of up to $350m and agreed to share liability with Verizon for potential lawsuits.

To which Marissa Mayer is obviously responding "That's all?!?!..."

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