Yahoo Hires Google to Sell Online Ads
SAN FRANCISCO – Yahoo has hired the internet search leader Google to sell some online ads in a hope of boosting their profits. The Sunnyvale-based company announced the plans late Thursday after its stock dropped to 10 percent on news that its efforts to revive takeover talks with Microsoft had hit a dead end.
Yahoo Inc. is now depending on Google Inc.’s superior moneymaking systems to appease its angry shareholders as it tries to fend off a shareholder mutiny being led by Carl Icahn, who is an activist investor.
By making use of Google’s superior advertising technology, Yahoo believes that the company can boost its annual cash flow by $250 million to $450 million during the first year of the deal. The partnership could last up to 10 years if it can win antitrust approval.
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