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Verizon may not want Yahoo anymore after data breach

What’s the return policy on a $4.83 billion corporation? Verizon Communications may be having second thoughts about its acquisition of Yahoo Inc. following news last month of a massive data breach affecting some 500 million email accounts. Craig Silliman, the telecom’s top lawyer, told reporters today that the breach—which Verizon apparently didn’t know about—could trigger a … Continue reading “Verizon may not want Yahoo anymore after data breach”

What’s the return policy on a $4.83 billion corporation? Verizon Communications may be having second thoughts about its acquisition of Yahoo Inc. following news last month of a massive data breach affecting some 500 million email accounts. Craig Silliman, the telecom’s top lawyer, told reporters today that the breach—which Verizon apparently didn’t know about—could trigger a back-out clause in the transaction, Reuters reports.

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According to Reuters, Silliman declined to say whether Verizon was renegotiating the deal, but he did say, “I think we have a reasonable basis to believe right now that the impact is material and we’re looking to Yahoo to demonstrate to us the full impact.”  

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About the author

Christopher Zara is a senior news editor for Fast Company and obsessed with media, technology, business, culture, and theater. Before coming to FastCo News, he was a deputy editor at International Business Times, a theater critic for Newsweek, and managing editor of Show Business magazine

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