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October 29, 2009
Yahoo, Microsoft Delay Search Deal Signing
Yahoo filed an extension last night to its self-imposed deadline for signing the pending search deal with Microsoft. When the deal was announced on July 29, the companies expected to complete the deal by October 27, but that didn't happen.
During its analyst day presentations yesterday, Yahoo CEO Carol Bartz told financial analysts not to worry about the move, insisting it was just a matter of "running out of time."
"It's a 10-year agreement, so we'd like to get it right up-front," Bartz said. She said the delay should not impact the timelines Yahoo and Microsoft expect for regulatory approval.
According to the Form 8-K filing:
The Letter Agreement specified that the parties would execute Definitive Agreements by October 27, 2009, but given the complex nature of the transaction, there remain some details to be finalized. The parties are working diligently on finalizing the agreements, have made good progress to date, and have agreed to execute the agreements as expeditiously as possible.
Posted by Kevin Newcomb at October 29, 2009 8:38 AM
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I actually can't wait for them to join together and take some share from google(although I am being a bit over optimistic. Because I think Google completely dominating the market is not good for Internet Marketers like me.
Tony November 1, 2009 3:19 AM
Yes, me too. Many are waiting what comes next after this contract has been signed. I understand that there are many things to finalize to make this thing happen so there would always be a natural delay of the momentum. Maybe Steve Phillips would also like to file for his suspension delay, won’t he?
DamienZ November 2, 2009 12:17 AM
Nice post. I thought to let you know that you website isn't getting displayed properly on thunderhawk browser on my mobile phone.
I wish that more and more number of web site owners would deliberate upon the fact that there is an ever growing number of users browsing webpages on the mobile.
cheers
Anonymous November 4, 2009 11:20 AM