11:50 AM

Verizon Acquisition Of Yahoo Delayed

Deal pushed to next quarter to meet closing conditions of the sale.

Verizon Communications' $4.83 billion acquisition of Yahoo scheduled for this quarter has been postponed to the next quarter even as the latter is "working expeditiously" to complete it, reports Bloomberg. 

Yahoo admitted last September that 500 million user accounts were breached in 2014 and followed up with another disclosure in December of a data breach in 2013. A source said Verizon may be looking to exit the deal or seek a more lucrative bargain following the disclosures.

However, despite the 2014 breach disclosure, page views on Yahoo properties rose, an October company report said. The revelations also appear not to have adversely affected user activity on Yahoo, and recent sales figures of $960 million have bypassed expectations, says Bloomberg.

"With our 2016 and Q4 financial results ahead of plan, and the continued stability in our user engagement trends, the opportunities ahead with Verizon look bright," Yahoo CEO Marissa Mayer said.

Read details on Bloomberg.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Recommended Reading:

Comment  | 
Email This  | 
Print  | 
More Insights
Copyright © 2020 UBM Electronics, A UBM company, All rights reserved. Privacy Policy | Terms of Service