Yahoo hires Google to sell some online ads
Yahoo has hired Internet search leader Google to sell some online ads in hopes of boosting its profit.
The Sunnyvale-based company announced the plans late Thursday after its stock plunged 10 percent on news that its efforts to revive takeover talks with Microsoft had hit a dead end.
Yahoo Inc. is now counting on Google Inc.'s superior moneymaking system to appease its angry shareholders as it tries to fend off a shareholder mutiny being led by activist investor Carl Icahn.
By using Google's superior advertising technology, Yahoo believes it can boost its annual cash flow by $250 million to $450 million in the first year of the deal.
The partnership could last up to 10 years if it can win antitrust approval.