Verizon will need to be convinced that the breach hasn’t lowered Yahoo’s value.
Verizon said it has a “reasonable basis” to believe Yahoo’s massive email breach had a “material” impact on the tech firm’s value, which could allow Verizon to cancel or renegotiate its planned $4.8 billion acquisition. — [Washington Post]
HP plans to cut up to 4,000 jobs over the next three years as it deals with slumping demand in the printer and personal computer markets. HP expects the restructuring will produce annual savings of $200 million to $300 million starting in fiscal 2020. — [Wall Street Journal]
In another big bet on digital by a TV network, Discovery Communications is putting $100 million into a deal with the Thrillist Media Group, The Dodo and NowThis Media, all run or backed by members of the Lerer family. The investment creates a new company called Group Nine Media that’s valued at $550 million. — [Recode]
Looking to add higher-quality live video than smartphones can deliver, Twitter-owned Periscope introduced Periscope Producer, a way for broadcasters to stream video from more professional equipment. — [Recode]
On the latest episode of Too Embarrassed to Ask, Recode’s Ina Fried joins Kara Swisher and Lauren Goode to talk about the fallout from Samsung’s Galaxy Note 7 nightmare and what the company needs to do to regain consumers’ trust. — [Recode]
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