Yahoo-Verizon: deal delayed to Q2

Yahoo says its closing its Verizon deal in the second quarter instead of in the first quarter, which is when it initially said the deal would close. The $4.8 billion deal was originally slated to close in the first quarter, but that was before Yahoo reported two massive data breaches that analysts say may scrap the entire deal.

Although Yahoo continues to work to close the acquisition, there’s still work required to meet closing the deal's closing conditions, the company said in an earnings statement, without elaborating.

In its earnings report on Monday, Yahoo reported a 15% rise in quarterly revenue amid uncertainty in its core business sale to Verizon Communications Inc.
Yahoo reported that its revenue rose to $1.47 billion in the fourth quarter, which ended December 31, from $1.27 billion the year prior.

Verizon executives have said they would review the impact of two major data breaches that were revealed after the sale was announced but Reuters reports that the deal terms could still be renegotiated.

The Sunnyvale company said in December it had found what is the largest data breach in history in 2013, which affected more than 1 billion user accounts. In September, it revealed a separate breach in 2014 that affected millions of accounts.

The break-ins occurred in 2013 and 2014, raising further questions about Yahoo's security controls and the timing of its disclosures.

The Securities and Exchange Commission (SEC) has opened an investigation into whether Yahoo should have announced the security breaches sooner than it did.

The breaches may have shaken confidence in Yahoo’s internet business. But the company has since taken measures, such as password resets, to secure user accounts.

Yahoo announced earlier this month that its remaining business, not being sold to Verizon, will become and investment holding company named “Altaba,” which won't include Marissa Mayer.