 Online edition of India's National Newspaper Saturday, Jun 14, 2008 ePaper | Mobile/PDA Version |
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SAN FRANCISCO: Microsoft’s four-month-long courtship of Yahoo has finally thrown Yahoo into the arms of their biggest common rival, Google. Google and Yahoo on Thursday said that they had reached an agreement under which Google would deliver ads next to some of Yahoo’s search results and on some of its Web sites in the U.S. and Canada. The non-exclusive deal is aimed at giving a lift to Yahoo’s finances, and the company said it would generate an additional $250 million to $450 million in operating cash flow in the first year. The agreement will also strengthen Google’s dominance over the lucrative search advertising market. It was signed after Yahoo rejected a proposal by Microsoft to acquire both Yahoo’s search business and a minority stake in the company. The rejection appears to end months of on-again, off-again negotiations between the two companies. “Clearly, it is time to move on,” Jerry Yang, Yahoo’s Chief Executive, said in a conference call. “This agreement with Google helps us to do so,” Mr. Yang added, saying that the deal would allow Yahoo to continue to compete in its two main lines of business, search and display advertising. The deal is certain to draw scrutiny from antitrust regulators, and the companies have agreed to delay it for three and a half months to give the Justice Department time to review it. Sen. Herb Kohl, D-Wis., the chairman of the Senate antitrust subcommittee, said his panel would closely examine the venture. The deal is also likely to become fodder in the heated battle between Carl C. Icahn, the activist investor, and Yahoo for control of the company. — AP
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