If you haven't heard the news, I wanted to let you know that Yahoo! and Microsoft have received U.S. and E.U. regulatory clearance for their search transaction. The Yahoo! and Microsoft Search Alliance will provide a competitive search platform that we believe will drive innovation in search and search advertising, offer a more engaging and personalized experience for consumers, and create greater value for advertisers and publishers. It will not immediately affect your account.
We've created two websites to provide information about the alliance in general, how it will affect advertisers and other interested parties, and what's going to happen next. I invite you to visit searchalliance.com [advertising.microsoft.com] or The Yahoo! Transition Center [advertising.yahoo.com] for full details. I'd be happy to also entertain your questions here, although--having just received regulatory clearance--I hope you understand that we don't yet have all of the answers.