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.