Yahoo salvages Verizon deal with $350m discount

Yahoo is taking a 350 million dollar hit on its previously announced 4.8 billion dollar sale to Verizon in a concession for security lapses that exposed personal information stored in more than one billion Yahoo user accounts.

The revised agreement, announced on Tuesday, eases investor worries that Verizon Communications would demand a discount of at least one billion dollars or cancel the deal entirely.