Google terminates advertising agreement with Yahoo!
In an announcement this morning Yahoo! stated that Google has terminated the advertising agreement that it announced with Yahoo! earlier this year. The agreement had been in danger ever since the Justice Department threatened to block it.
From the Yahoo! announcement:
Yahoo! Inc. (Nasdaq: YHOO), a leading global Internet company, today announced that Google has terminated the advertising services agreement the companies announced in June. Yahoo! continues to believe in the benefits of the agreement and is disappointed that Google has elected to withdraw from the agreement rather than defend it in court. Google notified Yahoo! of its refusal to move forward with implementation of the agreement following indication from the Department of Justice that it would seek to block it, despite Yahoo!’s proposed revisions to address the DOJ’s concerns.
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