Yahoo Inc. (ticker: YHOO) might have some trouble closing its acquisition with soon-to-be owner Verizon Communications (VZ), given a new report that says the media company might now be fraught with a large-scale data breach.
The company is set to soon verify a data breach that affects hundreds of millions of user accounts, according to Recode. Yahoo previously said it was looking into a data breach this summer that involved hackers touting a way into 200 million accounts and putting them up for sale.
The August hack news came from cybercriminal, “Peace,” who announced online the sale of these accounts via the dark web. Yahoo said then it knew about the claim and was looking into it though did not confirm its validity.
As for the $4.8 billion core business sale to the Verizon, this hack involves just that, Recode points out. This could lead to shareholder concerns about the ultimate price of the sale. The companies have been meeting to ensure an easy sale by going over Yahoo’s business.
Yahoo did not immediately comment on the report.
Data breaches are all too common, though one of this size could spell a host of problems for consumers, investors and executives alike. It also comes at a time of increasing consolidation in the media industry.
YHOO stock is up almost 32 percent on the year and was up 1 percent early Thursday.
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Yahoo Inc. to Reveal Large-Scale Data Breach, Report Says (YHOO) originally appeared on usnews.com
