back to article Verizon!'s top! lawyer! ponders! walking! away! from! Yahoo! gobble!

Verizon has acknowledged that it could call off its $4.8bn acquisition of Yahoo!, after the Purple Palace fell victim to the largest user data breach on record. Speaking with reporters at an event Thursday, Verizon general counsel Craig Silliman said Verizon does feel the exposure of 500 million Yahoo! Mail accounts could …

  1. Ole Juul

    business

    Verison is going to play this to the hilt.

    1. a_yank_lurker Silver badge

      Re: business

      They have a legitimate reason to reduce their offer significantly.

      1. Anonymous Coward
        Anonymous Coward

        Re: business

        Heck, they have a legitimate reason to just call the whole thing off. What Yahoo! was caught doing could well be considered a failure of fiduciary or regulatory duty, making them poison in a legal sense.

        1. Eddy Ito Silver badge

          Re: business

          Don't forget that half the value of Yahoo is the consumer data which Verizon can now likely buy much cheaper online from the hackers.

          1. Gnosis_Carmot

            Re: business

            Cheaper, yes. However, that would open them up to a major class-action sue-grenade from any lawyer looking to get rich quick.

  2. devangm

    They need to show their shareholders they are doing everything they can in good faith. They might have a reason to reduce the offer, but what they got still isn't a bad deal.

    1. DavCrav Silver badge

      "They might have a reason to reduce the offer, but what they got still isn't a bad deal."

      Really? They are buying Yahoo!, and the price had a bn at the end. I think that's a bad deal, personally. I think at the time someone on the comments here accurately valued it as being worth 18p, three buttons and a pen top. Not a whole pen, mind.

      1. VLSI

        Well, according to this: http://adage.com/article/digital/tim-armstrong-yahoo-verizon-deal-means-ad-world/305157/

        "AOL and Yahoo sites had an unduplicated U.S. audience of 236 million unique visitors in June, surpassing Facebook's 209 million and trailing only Google's 242 million, according to ComScore."

        You have to squint to compare all those eyeballs, but it's not too shabby for spending around 9 billion. It's not about the data, but the eyeballs.

        1. Charles 9 Silver badge

          But how many do Verizon ALREADY have? They're one of the biggest communications companies in the country, after all. How many of those eyeballs are UNIQUE to them?

  3. Anonymous Coward
    Anonymous Coward

    We are confident in Yahoo's value

    I hope whoever's come up with this (off the usual "response generator") has already booked a job appointment with several potential employers. I'm sure there's a neverending demand for such creative nonsense.

    1. Destroy All Monsters Silver badge

      Re: We are confident in Yahoo's value

      But the value is left unstated---

  4. Anonymous Coward
    Anonymous Coward

    Disclosure

    No doubt they would be able to call it off.

    When asked about potential liabilities, Yahoo did not disclose that data breach to the buyer.

    They were aware of the breach at the time.

    They did not disclose it to the government as required by law.

    They did not disclose it to the buyer even though there are huge financial liabilities in the form of fines and court cases.

    My question: how many active email accounts are there now? I know I finally deactivated mine after this mess - I doubt that I'm alone. And if enough people are doing the same thing, that affects their value also.

    1. Elf
      Mushroom

      Re: Disclosure

      I logged in, looked around. I have had a Yahoo! account for as long as it's really been around. Hell, I lived three blocks from the effing Purple Monstrosity in SOMA (San Francisco). It was like 20 EMails (I don't use POP, and their WebMail was 'Meh'). None of their services ever *really* appealed to me (they were a Great Directory). Whole thing was cobwebs and crickets. Nothing worth saving, nothing to move.

      That Service Provider has displayed an unacceptable level of responsibility with user data, the law, and to The Shareholders (whom I could care less about but I Totally wanted to type "Please, won't you think of The ShareHolders?").

      Instituting the Nuclear Option was the Only Option. So, we make two.

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