Verizon Explores Lower Price or Even Exit From Yahoo Deal (bloomberg.com) 52
Verizon is reconsidering its $4.8 billion purchase of Yahoo, according to Bloomberg. Citing a source, the publication claims that Wednesday's announcement by Yahoo -- theft of info from one billion users -- has led Verizon to consider scrapping the deal entirely. From the report: While a Verizon group led by AOL Chief Executive Officer Tim Armstrong is still focused on integration planning to get Yahoo up and running, another team, walled off from the rest, is reviewing the breach disclosures and the company's options, said the person, who asked not to be identified discussing private information. A legal team led by Verizon General Counsel Craig Silliman is assessing the damage from the breaches and is working toward either killing the deal or renegotiating the Yahoo purchase at a lower price, the person said. One of the major objectives for Verizon is negotiating a separation from any future legal fallout from the breaches. Verizon is seeking to have Yahoo assume any lasting responsibility for the hack damage, the person said.
Run, Verizon. (Score:5, Insightful)
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Run far, run fast, don't look back.
Yahoo's CSO, Alex Stamos sure did. He clearly saw this train-wreck a'comin' and jumped just in time.
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Run far, run fast, don't look back.
As a Verizon subscriber, fully agree. You just bought AOL, didn't you? That's adequate. No reason to acquire Yahoo! as well. I myself just deleted my account a few weeks ago
bringing back the '90s (Score:2)
Well, if they are trying to bring back the 90s, they will need Yahoo as well as AOL.
What's next? Bringing back CompuServe?
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You got FUCKED!
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Thing is, if I was facing bankruptcy I couldn't put the good stuff in my right pocket (or give it to my cat) and the creditors only get to pick the left one, sucks to be them LOL.
Why can Yahoo?
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Because they aren't bankrupt yet. And if they can limp along another year or two they'll be past any clawback provisions in the law.
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When you buy a business, you acquire both its assets and its liabilities, you don't get to pick and choose. If you don't like it, don't buy it.
I can't imagine why they'd still go through with it now.
Businesses don't have to be sold in whole. It very popular in New Korporate Amerika to now buy all the assets and key employees that make a business work, but not technically buy the business. Then you leave the liabilities and people you hate behind for bankruptcy and all the company's shareholders get screwed, while the executives take golden lifeboats to their new positions with the purchasing company.
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You could not be more wrong. Companies buy some of the assets of other companies all the time.
In this case, specifical
gross (Score:5, Interesting)
While a Verizon group led by AOL Chief Executive Officer Tim Armstrong is still focused on integration planning to get Yahoo up and running
its like watching two rotten old corpses fuck
Re: gross (Score:1)
Maybe they can get assistance from Compuserve and Prodigy.
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Ghouls, apparently.
Dumbest business ever (Score:5, Insightful)
Yahoo turning down Microsoft's offer to buy them out for $45B has to go down as one of the dumbest business decisions of all time. Conversely Microsoft might win the award for biggest bullet (unintentionally) dodged of all time. Yahoo is just an absolutely pathetic company which has been badly managed for a long time.
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Her parachute is guaranteed, not that I agree she was worth that much to begin with but still she'll come out fine.
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I bet Marissa Mayer is still fuming about ever taking the CEO position and associating herself with such a f'd up company. If she had only known in advance.
I hope this is a joke... Yahoo has been in a tailspin for years, there was no way Meyer wouldn't know about it.
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Oh what the fuck? Talk about bullshit, yet another I get paid millions to take no responsibility for fuck all because I have the brains of an M&M, all melty and full of corn. When you are paid to be in fucking charge, than it is your fuck up. So what did the M&M manage to achieve, make Yahoo an undesirable place to work by forcing all the remote workers into the office so the M&M could listen in and steal their ideas and claim them as it's own, apparently a track record for it. If the Yahoo boar
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Yahoo turning down Microsoft's offer to buy them out for $45B has to go down as one of the dumbest business decisions of all time. Conversely Microsoft might win the award for biggest bullet (unintentionally) dodged of all time. Yahoo is just an absolutely pathetic company which has been badly managed for a long time.
Very likely however for the sake of accuracy I would like to note that the Microsoft sale would have included the Alibaba stake (which was much larger back then.) This stake is not included in the Verizon sale, only it's core business (largely the yahoo portal)
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Yahoo just needs to die and go away. They have been marginal or even irrelevant for a very long time.
Yahoo has actually been a has-been *far* longer than it was ever top dog.
If you think about it, their time at the top was pretty short- essentially beginning and ending with the late 90s dotcom era. The original directory was created in early '94, the domain only registered a year later, and the IPO was in 1996. Four years after *that*, the dotcom crash happened, Google rose out of nowhere to leave them in their dust, and they never seemed to move on successfully from that.
They've seemed like a relic al
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Still, it was not completely worthless. Marissa changed that with her bad policies that made the hack possible. At this time, the actual worth of the company is probably a few hundred millions in the negative. She will still get to keep all the money she got paid despite delivering less than nothing. Power without responsibility is something that never produces a good outcome.
Yahoo assume lasting responsibility? (Score:2)
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Verizon is buying Yahoo. Who would be left to assume responsibility? The shareholders?
When Oracle purchased Sun Microsystems they had to deal with the fallout of Java when suddenly realizing it was highly insecure. So you take full ownership of both the good and the bad when purchasing a company.
Leave it to Verizon... (Score:2)
Leave it to Verizon... to invent the "Vexit".
Not likely. (Score:4, Interesting)
As I said last night [slashdot.org]
, it's just posturing to get the company for a cheaper price. They'll go through with it either way.
WTF kinda name is that? (Score:5, Funny)
A legal team led by Verizon General Counsel Craig Silliman
I'm not sure Craig is taking his job seriously...
Don't you say... (Score:2)
Even vultures are selective about the rotten carcass they eat, apparently. xD
Killing the deal? (Score:2)
This deal never made sense (Score:2)
I realize Verizon buys content but the core search engine, web services, apis, and other things that make up yahoo. After the initial disclosure a few months ago and now this, I can't see Yahoo as being worth much of anything other than a name for epic failure.
Why spend $4.8B (Score:1)