Verizon Will Give Yahoo Time to ‘Work on the Breach’

But good news from AOL.

Verizon’s $4.8 billion deal to acquire Yahoo is moving forward, but CEO Lowell McAdam says investigating a massive security breach revealed in September is taking time.

“They’ve been doing all their work on the breach,” McAdam said this morning at the UBS Media and Communications Conference. “We need to give them a lot of time to do that analysis before we move forward on that.”

McAdam had positive things to say about another recent acquisition, AOL. “AOL continues to perform for us, it was up 10 percent in revenue in the last quarter,” McAdam said. As Verizon bulks up on mobile content and digital advertising solutions, it announced today it is selling its data center business to Equinix for $3.6 billion.

@ChrisAriens Chris Ariens is the managing editor and director of video at Adweek.
Publish date: December 6, 2016 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT