New York Post

Yahoo user bruiser: $925M discount call

- By RICHARD MORGAN

The massive hacks of Yahoo’s user data nearly shaved $925 million off the company’s $4.8 billion deal to sell itself to Verizon, Yahoo revealed Monday.

Sunnyvale, Calif.-based Yahoo disclosed in a regulatory filing that Verizon Chief Executive Lowell McAdam had told Yahoo director Thomas McInerney that the $925 million price cut “could be appropriat­e” as they scrambled to close a deal in early February.

That’s despite the fact that McAdam had denied an exclusive report by The Post in October that Verizon was pushing for a discount of as much as $1 billion on the Yahoo deal.

Verizon’s suggested price reduction was in response to two breaches of 1.5 billion customer accounts — one in 2013 and an- other in 2014 — that Yahoo admitted to the public last year.

Last month, the two finally agreed to a smaller price reduction of $350 million, paving the way for the deal they struck last July to close by the end of June.

Yahoo on Monday also detailed CEO Marissa Mayer’s golden parachute that will exceed $23 million when Verizon takes over Yahoo’s internet properties.

Mayer’s award of some $3 million in cash and $20 million in equity looked like a soft landing for the five turbulent years she ran the company.

In addition to the security breaches, Mayer’s tenure was marred by misguided hires, ill-advised acquisitio­ns and tone-deaf managerial maneuvers.

Among the questionab­le hires was Katie Couric, whom Yahoo paid $10 million a year.

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