Posted on 04/10/08
Yahoo, Google to delay ad deal amidst U.S. probe
Yahoo Inc. and Google Inc. agreed to delay an Internet advertising partnership while U.S. regulators investigate whether the deal will hurt competition. The companies agreed to a "brief" delay while discussions with the Justice Department continue, Yahoo and Google said yesterday in e-mailed statements. Google chief executive officer Eric Schmidt said in August that the partnership would start in early October. Competitors, consumer advocates and customers questioned whether the partnership would give Google too much control over advertising and information on the Web. The plan raised eyebrows as soon as it was announced in mid-June because Google and Yahoo together handle more than 80 per cent of U.S. Web searches. GOOG (Nasdaq) fell $3.58 (U.S.) $386.91. YHOO (Nasdaq) rose 42 cents to $16.
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