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Verizon says Yahoo privacy breach had material impact

Posted By on October 14, 2016 in Written Content | 0 comments

Verizon says Yahoo privacy breach had material impact

It looks like those 500 million hacked Yahoo accounts may affect its sale to Verizon (TechCrunchs parent).

At a company public policy round table in DC this afternoon, Verizon general counsel Craig Silliman said: I think we have a reasonable basis to believe right now that the impact is material and were looking to Yahoo to demonstrate to us the full impact. If they believe that its not, then theyll need to show us that.

Silliman did not comment on reports that Verizon is asking Yahoo for a discount on the $4.8 billion deal.

While we have no inside knowledge about our parent companys discussions, Silliman calling the impact material is probably not the best sign for Yahoo. It suggests that Verizon may be renegotiating the terms of the deal.

Although the acquisition was already announced, Verizon may be able to make the claim that Yahoo did not disclose its knowledge of the hacks. Reports indicate that Yahoomay have been aware of the incident in July, which was around the time the dealwas announced. However, in September, Yahoo issued a statement that they had been unaware at the time.

When reached for comment today, a Yahoo spokesperson said, We are confident in Yahoos value and we continue to work towards integration with Verizon.

After being asked about the hack ina televised interview with CNBCa couple of weeks ago, AOLs Tim Armstrong said, the data thing was something new that got introduced and well work through that together with Yahoo. He added thathe wants to be protective of the Verizon shareholders.

Read more: https://techcrunch.com/2016/10/13/verizon-yahoo-privacy-impact-material/