Yahoo inks search deal with Google

Cory Bergman June 12th, 2008

Hours after telling Microsoft that negotiations were over, Yahoo announced a search advertising deal with Google. “This agreement provides a source of funds to both deliver financial value to stockholders from search monetization and to invest in our broader strategy to transform display advertising and advance our starting-point objectives with users,” Yahoo President Sue Decker said in a statement. How much money? Yahoo said it expects a $800 million boost in the deal’s first year. Both companies are holding off implementing the deal for several months to give the Department of Justice time to review it.

Update: What the deal means for the Yahoo newspaper consortium