Microsoft and Yahoo Need a Bit More Time to Negotiate a Deal

Paul Lilly

In a filing with the SEC, Yahoo said more time is needed to complete the search and advertising deal with Microsoft. The two sides had agreed in late July to have everything squared away by October 27, but hammering out the details of a long term deal is taking longer than expected.

"The parties are working diligently finalizing the agreements, have made good progress to date, and have agreed to execute the agreements as expeditiously as possible," Yahoo wrote.

Assuming the two sides can get this done -- and both sides said they are committed to doing so -- Microsoft's Bing will power Yahoo's search results in exchange for those all important advertising dollars. In a joint statement, Microsoft said the companies are "optimistic" they'll be able to close the deal by early 2010, but did not specify a new deadline.

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