Yahoo to sell company to Verizon for a $350M Deal Cut over Data Breach issues

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Yahoo and Verizon confirm the original deal between the two companies has suffered a $350 million price cut, putting the final valuation of Yahoo at $4.48 billion in cash.

"Under the amended terms, Verizon and Yahoo have agreed to reduce the price Verizon will pay to acquire Yahoo's operating business by $350 million. In addition, Verizon and Yahoo will share certain legal and regulatory liabilities arising from certain data breaches incurred by Yahoo," the announcement reads.

News about the new deal changes leaked last week, but the two companies did not confirm the terms until now. In the past several months, there have been numerous speculations about the impact the two largest data breaches in history, revealed by Yahoo last September and December, would have on the deal between the two companies. It was expected that the terms would suffer some changes, including a price tag cut, something that has finally been confirmed.

"We continue to be very excited to join forces with Verizon and AOL. This transaction will accelerate Yahoo's operating business especially on mobile, while effectively separating our Asian asset equity stakes. It is an important step to unlock shareholder value for Yahoo, and we can now move forward with confidence and certainty. We have a terrific, loyal, experienced team at Yahoo. I'm incredibly proud of our team's strong product and financial execution in 2016, setting the stage for a successful integration," said Marissa Mayer, Yahoo CEO.