NYT has a good story:
The terms of the 10-year agreement call for Microsoft to license some of Yahoo’s search technologies, and Yahoo will initially receive a lucrative 88 percent of search-generated ad revenue from Yahoo sites.
Cnet does as well. Many folks are noting Yahoo’s shares slide at the open this morning. No “Boatload” of cash upfront…
More as morning coffee kicks in.
Update: YHOO is down nearly 10%, Wall St. no likey. Given the deal was already priced in, that’s interesting. MSFT is slightly up.
The formal statement is here. A marketing website called “ChoiceValueInnovation” is now up too. Really.
Update 2: I am trying to slate some time to talk with the principals involved, if I do, I’ll write it up here later. In short, though, watch two things: 1/How yahoo plans to “own” the UI on top of Bing – given Bing’s UI is key to its differentiation, and 2/Who owns the data and how is it getting used to leverage competing display advertising platforms….