New York Post: Verizon wants to pay less for Yahoo in wake of scandals

Yahoo has certainly seen way better days.

Last week, it has had its 500 million of its users email account credentials exposed. This week, it was revealed that Yahoo was riling through emails at the classified request of the National Security Agency or FBI, looking for signatures correlated to terrorist communications.

Add to that the company’s CEO Marissa Meyer leaving a bad taste of management with many in the company and Yahoo is looking like less of a great buy for Verizon. The telecom company agreed to buy the former search engine giant for $4.8 billion in July, but the New York Post is claiming from several sources that it wants $1 billion off the price.

“In the last day we’ve heard that [head of Verizon-owned AOL, Tim Armstrong] is getting cold feet,” the Post quoted one source. “He’s pretty upset about the lack of disclosure and he’s saying ‘can we get out of this or can we reduce the price?'”

Yahoo’s negotiation team is reportedly staving off attempts to change the asking price at this stage.

Source: New York Post, Reuters
Via: VentureBeat

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.