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Yahoo, Microsoft finalize search agreement

Yahoo and Microsoft have finalized their agreement to install Microsoft as the exclusive search provider for Yahoo's network of sites.
Written by Tom Krazit, Contributor on
Yahoo and Microsoft have finalized their agreement to install Microsoft as the exclusive search provider for Yahoo's network of sites, the companies announced Friday.

The deal, first reached in July, still needs to be approved by the US government before it becomes official. But the companies said in October that they needed more time to complete the deal due to the "complex nature of this transaction", and Friday's announcement is likely to be the result of hundreds of hours of painstaking review from expensive lawyers.

Company executives did not have to rack up the frequent-flier miles to finalize this year; they signed it virtually, with Microsoft's Qi Lu and Yahoo chief executive Carol Bartz representing their respective companies on the licensing agreement, and Ballmer and Bartz inking the definitive agreement, according to sources familiar with the deal.

For more, read "Yahoo, Microsoft finalize search agreement" on CNET News.

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