Microsoft Corp is taking up a new management team to take control of Yahoo Inc.'s Internet search business and sign a partnership deal following its failed takeover attempt.

Microsoft will put up $5 billion to back Jonathan Miller, the former chief executive officer of AOL, and Ross Levinsohn, a former president of Fox Interactive Media.

Microsoft is seeking ways to revive its online advertising business as the global recession stifles spending and Google Inc. wins more search users. For Sunnyvale, California-based Yahoo, which spurned Microsoft's bids of as much as $47.5 billion this year, a deal may help shore up revenue after losing out on a partnership with Google.

The terms would give Microsoft a 10-year operating agreement to manage Yahoo's search business, plus a two-year option to buy it for $20 billion. Senior directors of the companies have agreed to the outline of the deal, the newspaper said, without citing anyone.

However Levinsohn denied the report, according to a blog post by the Wall Street Journal's All Things Digital.

Source:Google News

Labels: google, microsoft, seo news, yahoo

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