It wasn’t hard to see this coming. Verizon’s $4.8 billion valuation of Yahoo may come crashing down thanks to the September revelation that hackers stole info on over 500 million Yahoo user accounts. The telco now wants to cut $1 billion off its acquisition deal, according to a report from the New York Post. (According to the report, Verizon would also like to set aside an additional $1 billion in reserve funds to cover liabilities related to the hack.) According to a source who spoke to the Post, Verizon’s AOL is a driving force behind the effort to lower Verizon’s bidding price. One major issue that reportedly angers AOL: Before Yahoo was 100 percent certain it had been hacked, the company reportedly kept Verizon in the dark about the potential breach. “[AOL boss] Tim [Armstong] is…pretty upset about the lack of disclosure and he’s saying, ‘Can we get out of this or can we reduce the price?” the source told the Post. Yahoo isn’t having it. According to the report, Yahoo’s position is simple: The deal is set, and Verizon has no legal means to alter its terms.
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