SAN FRANCISCO: A price cut had Verizon on track Tuesday to go ahead with the purchase of Yahoo’s internet business, and share the costs from a pair of epic hacks that threatened to derail the deal. Yahoo slashed the price of its core Internet business by $350 million. Yahoo still faces probes and lawsuits related to the cyber attacks, which affected more than 1.5 billion accounts, and the timing of the disclosures. But Verizon was eager to expand its reach into digital advertising, even though the transaction faced setbacks due to the hacks. “We continue to be very excited to join forces with Verizon and AOL,” Mayer said in a joint release.

Source: Manila Times February 22, 2017 04:01 UTC