Report: Verizon Wants $1 Billion Discount On Yahoo Deal

The New York Post claims that Verizon is asking Yahoo for a $1 billion discount to finalize what was supposed to be a $4.8 billion deal.

Yahoo confirmed in September that it had suffered a data breach which affected at least 500 million users. Information, included names, email addresses, birth dates, encrypted and unencrypted passwords and answers to security questions.

While the breach happened in 2014, Yahoo discovered the intrusion recently. Yahoo CEO Marissa Mayer learned of the breach in July, when the sale of the company was being negotiated.

In a televised interview with CNBC last week, AOL’s Tim Armstrong said “the data thing was something new that got introduced and we’ll work through that together with Yahoo." Armstrong said he wants to be “protective” of Verizon’s shareholders.

Armstrong also said in the interview on CNBC’s “Sqwak Box” that Verizon is working with Yahoo to understand the scope of the data breach. He described the process as “calmly” and “methodically.” Armstrong also spoke about the importance of keep the data breach investigation separate from the Yahoo integration with Verizon.

Verizon bought AOL last year for $4.4 billion.