>> The biggest known hack ever looking like it'll peel off up to $350 million from what Verizon is willing to pay for Yahoo. A source telling Reuters that a deal revising down the $4.8 billion price tag is coming soon, all because of a hack that hit over a billion Yahoo user accounts.
Reuters Jessica Toonkel.>> There was a bit of a surprise, because people were talking about a billion-dollar cut off the price originally. And it's a much smaller cut. But in the grand scheme of things for Verizon, this was such a small deal that it doesn't really move Needle at all.
>> Yahoo's shares were up over a percent in Wednesday. Verizon on the other hand, slipped close to half a percent.>> For Verizon, it's about getting the eyeballs and people with the Yahoo deal, and their getting the ad technology. And also, it's part of their strategy, their making a bet that digital media is the way to go, whereas their competitor, AT&T, is betting more on traditional media with it's acquisition of Time Warner.
Investors and analysts we speak to, still think that Verizon, even with this deal, needs to do a bigger content deal that's more transformative to it's business.