Verizon Sought $925M Penalty For Yahoo’s Lax Security

SAN FRANCISCO (AP) — Verizon demanded a $925 million discount on its acquisition of Yahoo’s online services to help offset the damage from the biggest data breaches in internet history. It ultimately settled on a $350 million concession.

Yahoo is disclosing new details about its negotiations with Verizon in a regulatory filing Monday. The filing doesn’t say why Verizon accepted the lower figure, which was previously announced.

The companies struck a $4.83 billion deal last July, but re-opened talks after Yahoo revealed that personal information had been stolen from more than 1 billion of its users in two separate hacking attacks during 2013 and 2014.

Monday’s filing also revealed that Yahoo CEO Marissa Mayer will receive a $23 million severance package if she doesn’t work for Verizon.

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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