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Microsoft Corp extended the revenue guarantee it provides to Yahoo Inc in the companies' underperforming search partnership, Yahoo said on Tuesday.
The U.S. revenue-per-search guarantee, which had expired on March 31, will be extended for one year, and took effect on April 1, Yahoo said in its 10Q filing with the Securities and Exchange Commission on Tuesday.Yahoo Extends Its Search Deal With Microsoft [reuters.com]
Extension of the search revenue guarantee marks Yahoo's first agreement with Microsoft since Marissa Mayer became Chief Executive of Yahoo in July. Mayer, who is seeking to reverse a multi-year decline in Yahoo's revenue and in its online traffic, has been critical of the Microsoft partnership struck by former Yahoo CEO Carol Bartz.
"We need to see monetization working better because we know that it can and we've seen other competitors in the space illustrate how well it can work," Mayer said of the deal during an investor conference in February.