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As I mentioned in another thread, I noticed several days ago that, for some non-commercial queries, MSN is listing fewer sites than are shown in the matching category in Looksmart.
For example, if you search MSN for "blue sky", the number of listings shown in MSN from the Looksmart "Blue Sky" category will be anywhere from none of them to all of them.
Haven't checked queries that would involve commercial categories.
Press release says: "Microsoft accounted for approximately 65% of listings revenues, and all of LookSmart's licensing revenue in the second quarter of 2003."
In their marketing info about their listings, LS says "Reach millions of Internet users each month on top search sites, such as MSN, Lycos, About.com, RoadRunner, CNET, InfoSpace and search services, such as Inktomi."