“Verizon said on Tuesday it would buy Yahoo’s core business for $4.48 billion, lowering its original offer by $350 million in the wake of two massive cyber attacks at the internet company,” Reuters reports.

“The closing of the deal, which was first announced in July, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed last year,” Reuters reports. “The deal brings to Verizon Yahoo’s more than 1 billion users and a wealth of data it can use to offer more targeted advertising. Verizon will combine Yahoo’s advertising technology tools as well as its search, email and messenger assets with its AOL unit, purchased for $4.4 billion in 2015.”

“The combined Yahoo and AOL businesses will help diversify Verizon away from its core wireless business, wrote Jennifer Fritzsche, an analyst at Wells Fargo, but ‘we would note its digital media and advertising business would still be a small percentage of revenues,'” Reuters reports. “Verizon and Yahoo said they expect the deal to close in the second quarter.”

Read more in the full article here.

MacDailyNews Take: $4.48 billion is better than nothing.

Buh-bye, red ball!

Yahoo CEO Marissa Mayer (photo by Brigitte Lacombe)

Yahoo CEO Marissa Mayer (photo by Brigitte Lacombe)

SEE ALSO:
Beleaguered Yahoo faces U.S. SEC probe over data breaches – January 23, 2017
Yahoo discloses ‘largest hack of all time,’ says hackers stole data from over one billion users – December 15, 2016
Yahoo secretly scanned all customer emails for FBI, NSA, sources say – October 4, 2016
Yahoo confirms data breach of at least 500 million user accounts – September 22, 2016
Yahoo CEO Marissa Mayer likely to pocket over $122.5 million with sale to Verizon – July 29, 2016
Verizon to acquire beleaguered Yahoo for $4.8 billion – July 25, 2016
CEO Marissa Mayer drops the ax, shutters about half of Yahoo’s content verticals – February 17, 2016
Yahoo CEO Marissa Mayer gets a chance to make one last stand – February 3, 2016
Yahoo to lay off 15% of staff, close five offices, explore non-strategic asset sales – February 2, 2016
Yahoo investors running out of patience with CEO Marissa Mayer – January 4, 2016
Hedge fund manager blasts Marissa Mayer for equipping employees with 22,000 iPhones – January 4, 2016
Yahoo board to weigh future of company, Marissa Mayer, source says – December 2, 2015
Yahoo or Microsoft can terminate search deal anytime on or after October 1st – April 21, 2015
Microsoft loses exclusivity in Yahoo search deal shake up – April 17, 2015
Yahoo gains further US search share; Google falls below 75% for first time – February 3, 2015
Microsoft, Yahoo vie to become Apple Safari’s default search option – November 26, 2014
Firefox dumps Google for default U.S. search, switches to Yahoo/Bing – November 20, 2014
Yahoo’s Marissa Mayer was right to ban working from home, right? – August 12, 2014
Yahoo CEO Marissa Mayer wants to save Google a billion dollars – April 18, 2014
Yahoo’s strategy: Rebuild search, take share, win iOS from Google – April 17, 2014