Verizon Communications is close to finalizing its long-awaited purchase of Yahoo’s internet business, lowering the value of the deal to about $4.5 billion to make up for a series of data breaches at the company, according to reports.
Verizon originally agreed in July to purchase Yahoo’s internet assets for $4.8 billion. But after that deal was announced, Yahoo revealed a series of data breaches where it lost hundreds of millions of customer email addresses and other personal information. That alarmed Verizon officials, who immediately launched their own investigation into the losses.
According to Bloomberg News, Verizon is looking to lower the Yahoo purchase price by about $250 million. The New York Times later reported that the discount may be closer to $300 million.
Verizon officials declined to comment.
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