Verizon wants $1 Billion Discount on Yahoo Acquisition Deal after Recent Scandals
Oct 07, 2016
It seems like it is not all over for Yahoo yet. Another day, another bad news for Yahoo! Verizon, which has agreed to purchase Yahoo for $4.8 Billion , is now asking for a $1 Billion discount, according to recent reports. The request comes after Verizon Communications learned about the recent disclosures about hacking and spying in past few weeks. Just two weeks ago, Yahoo revealed that at least a half Billion Yahoo accounts were stolen in 2014 hack, marking it as the biggest data breach in history. And if this wasn't enough, the company faced allegations earlier this week that it built a secret tool to scan all of its users' emails last year at the behest of a United States intelligence agency. Due to these incidents, AOL CEO Tim Armstrong, who runs the Verizon subsidiary, is "pretty upset" about Yahoo's lack of disclosure, and is even seeking to pull out of the deal completely or cut the price, the New York Post claimed, citing multiple sources.