This story was written by Joseph Weisenthal.
As expected Yahoo (NSDQ: YHOO) has announced a non-exclusive ad pact with Google (NSDQ: GOOG). In an announcement, the company says it has agreed with its arch rival to run ads against some search queries as well as other of its web properties. From the announcement: "Under the terms of the agreement, Yahoo! will select the search term queries for which and the pages on which Yahoo! may offer Google paid search results."
Key highlights of the deal:
-- Yahoo! believes that this agreement will enable the Company to better monetize Yahoo!'s search inventory in the United States and Canada. At current monetization rates, this is an approximately $800 million annual revenue opportunity. In the first 12 months following implementation, Yahoo! expects the agreement to generate an estimated $250 million to $450 million in incremental operating cash flow.
Release.More to come
By Joseph Weisenthal