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Yahoo has hired Internet search leader Google to sell some online ads in hopes of boosting its profit.
The Sunnyvale, Calif.-based company announced the plans late Thursday, after its stock plunged 10% on news that its efforts to revive takeover talks with Microsoft (MSFT, Fortune 500) had hit a dead end.
Yahoo Inc (YHOO, Fortune 500). is now counting on Google Inc.'s (GOOG, Fortune 500) superior moneymaking system to appease its angry shareholders, as it tries to fend off a shareholder mutiny being led by activist investor Carl Icahn.
By using Google's superior advertising technology, Yahoo believes it can boost its annual cash flow by $250 million to $450 million in the first year of the deal.
The partnership could last up to 10 years if it can win antitrust approval.
article
The Sunnyvale, Calif.-based company announced the plans late Thursday, after its stock plunged 10% on news that its efforts to revive takeover talks with Microsoft (MSFT, Fortune 500) had hit a dead end.
Yahoo Inc (YHOO, Fortune 500). is now counting on Google Inc.'s (GOOG, Fortune 500) superior moneymaking system to appease its angry shareholders, as it tries to fend off a shareholder mutiny being led by activist investor Carl Icahn.
By using Google's superior advertising technology, Yahoo believes it can boost its annual cash flow by $250 million to $450 million in the first year of the deal.
The partnership could last up to 10 years if it can win antitrust approval.
article
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