Verizon Ready To Admit That It Agreed To Marry Yahoo Without Seeing A Credit Score

This engagement was never gonna work out, you guys.

Remember Yahoo?


Well there's some news out of what's left of the Purple Kingdom, so grab a helmet and a shovel:

Yahoo, already reeling from its September disclosure that 500 million user accounts had been hacked in 2014, disclosed Wednesday that a different attack in 2013 compromised more than 1 billion accounts.
The two attacks are the largest known security breaches of one company’s computer network.
The newly disclosed 2013 attack involved sensitive user information, including names, telephone numbers, dates of birth, encrypted passwords and unencrypted security questions that could be used to reset a password. Yahoo said it is forcing all of the affected users to change their passwords and it is invalidating unencrypted security questions — steps that it declined to take in September.

If you're wondering how many death blows one company can withstand, the answer might well: How many does this one make?

Despite all the disasters - both organic and Mayer-made - that have befallen Yahoo in recent years, the company is still somehow in what we have all been led to believe are final talks with Verizon on an almost $5 billion merger that is looking increasingly like the deal of the century for Marissa Mayer should she pull it off.

Unfortunately for her, it's not looking good.

Verizon Communications Inc. is exploring a price cut or possible exit from its $4.83 billion pending acquisition of Yahoo! Inc., after the company reported a second major e-mail hack affecting as many as 1 billion users, Bloomberg News reports.

If Verizon does indeed want to go through with the marriage, the idea of a price cut seems like the closest thing to a pre-nup it's going to get, but how do you set a new price? Would Verizon want to go by book value? Because figuring out what Yahoo's remaining assets might be (if they actually exist) and then discovering the depth of their ever-deepening liabilities might push the deal into a place where Yahoo is paying Verizon to acquire it.

And if you still use Yahoo for email, you have two choices: Change your password again, or go back to Lycos.

Yahoo Says 1 Billion User Accounts Were Hacked [NYT]
Verizon Explores Lower Price or Even Exit From Yahoo Deal [Bloomberg]