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MSN Extends Overture Deal
Posted on October 16, 2003
NEW YORK: Overture Services Inc.,
an online search company and unit of Yahoo Inc., said
that it has extended its distribution deal with Microsoft
Corp. in the United States and Britain through June
The agreement allows the companies
to expand into additional countries. Overture's search
listings are paid for by the advertisers, that bid for
placement on keywords relevant to their business.
The deal concludes weeks of negotiations
between Yahoo and Microsoft's Internet division, MSN,
which is one of Overture's biggest clients.
Microsoft is building its own Web
search platform after depending on outside providers
for several years.
Microsoft dumped Internet search provider LookSmart
Ltd., which got nearly 70 percent of its revenue from
Editor's Note: This
news is a big surprise as it was heavily rumored that
Microsoft wasn't just building its own Web search platform,
but also building its own PPC model for a solid revenue
stream. It seems that Gates' team has failed to achieve
the quality level of Overture.