Google Withdraws From Ad Deal With Yahoo!
Microsoft and Yahoo! had the world watching when they were going through the motions of acquisition. We know how things eventually turned out, but that didn’t end things for Yahoo! What happened after is that Google jumped in with its rival to come up with an ad deal. Today we found out that, just like the deal with Microsoft, this one isn’t pushing through either.
“After four months of review, including discussions of various possible changes to the agreement, it’s clear that government regulators and some advertisers continue to have concerns about the agreement,” said David Drummond, Google’s chief legal officer in a blog post Wednesday. “Pressing ahead risked not only a protracted legal battle but also damage to relationships with valued partners. That wouldn’t have been in the long-term interests of Google or our users, so we have decided to end the agreement.”
It’s another nail in the coffin for Yahoo!. The company has been suffering from setbacks even during its deal with Microsoft. Will someone else come in and try to revitalize the finances of the ailing search group? We’ll keep you updated.
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