Eric Schmidt: Google-Yahoo Deal On For October
This story was written by Joseph Weisenthal.
Various state and federal regulatory bodies are still looking into Google's (NSDQ: GOOG) ad relationship with Yahoo (NSDQ: YHOO), but CEO Eric Schmidt says the deal is on for October. Schmidt made the remarks in an interview with Bloomberg, while in Denver hanging out at the Democratic National Convention. That regulatory body may seek to block the deal has been a remote, but possible obstacle since it was announced in early June. The companies have always maintained the opinion that they don't need regulatory approval to go ahead, but that they wanted to give regulators some time to voice any objections now. From the beginning, Google and Yahoo have said they'd wait 3.5 months, about 100 days, to go forward. Meanwhile, in addition to potential trip ups from domestic regulators, Canada's Competition Bureau is looking into things as well. Fortunately, the companies don't have to get the blessing of the EU's hard-nosed regulators, since the agreement only applies to ads served up in the US and in Canada.
By Joseph Weisenthal