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“After the disclosure of two massive data breaches last year, today Yahoo and Verizon finally confirmed new terms for the sale of Yahoo to Verizon: Verizon will pay $350 million less than originally planned, working out to a price of $4.48 billion to acquire Yahoo.

The two have also agreed to share legal and regulatory liabilities after two massive data breaches at Yahoo, one estimated to cover around 500 million accounts revealed in September 2016, and another disclosed in December 2016 affecting over 1 billion accounts. TechCrunch has also confirmed that any further Yahoo liability going forward will be assumed by Altaba, the newly branded holding company that will oversee the Yahoo stake in Alibaba after the sale of the rest of the assets to Verizon.”

Read more details here.

Author: Ingrid Lunden