Google scraps partnership with Yahoo

By: The Associated Press
By: The Associated Press

Yahoo is looking for something to cheer about amid dashed hopes that Google could help the Internet pioneer dig out of a big slump.

Yahoo, which runs the No. 2 search engine, agreed in June to let No. 1 Google sell some of the ads shown next to Yahoo's search results. The deal was intended as a lifeline after Yahoo spurned Microsoft's rich $47.5 billion takeover bid less than a month before.

Now that Google has scrapped the Yahoo partnership rather than challenge the Justice Department over antitrust objections, Yahoo is back to square one.

Without Google's muscle, Yahoo's chances are looking even poorer, making it appear more likely that the company will turn to AOL or back to Microsoft for help.

Yahoo's management team is on shaky ground with shareholders for rejecting the Microsoft deal.

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