Verizon Ready To Admit That It Got Totally Catfished By Yahoo

This was not what Verizon fell in love with over the phone.

It's seeming more and more likely that the nonsensical deal in which Verizon would acquire the rotting, farting corpse of Yahoo for almost $5 billion is maybe not going to go through as originally planned.


Why? Because literally everything...and also that Yahoo let half a billion user accounts get hacked and failed to recall that whilst hammering out the deal this summer. Believe it or not, Verizon is a little pissed about that...

Verizon’s general counsel, Craig Silliman, said on Thursday the company has a “reasonable basis” to believe that Yahoo’s massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo.

We're no lawyers, but that seems fair. Basically, Marissa Mayer and her team keep letting revelations leak out that Yahoo is maybe even more totally fucked-up than everyone thought, which is incredible considering that popular opinion held Yahoo to be a smoldering tire fire, its flames fed by money and shame. The hacking admission was just the latest and "great"est thing to come out at the most inopportune moment.

So bad is the timing that Verizon can now pull out of the deal that it maybe never should have entered into in the first place. And that possibility is real enough that Verizon's lawyer is talking about it out loud...

“I think we have a reasonable basis to believe right now that the impact is material and we’re looking to Yahoo to demonstrate to us the full impact. If they believe that it’s not then they’ll need to show us that,” he said, declining to comment on whether talks are under way to renegotiate the purchase price.

We predict this thing ends with Yahoo back on the market looking a $1 DVD at WalMart, or with Marissa Mayer taking Verizon aside and whispering "Would you do this for like $500K and my own HuffPo column?"

Why Verizon Now Thinks Yahoo's Data Breach Could Halt the Merger [Fortune]