Viacom, Yahoo Reach Multiyear Ad Deal
Posted on: Tuesday, 10 April 2007, 12:00 CDT
NEW YORK - Yahoo Inc. will be the exclusive provider of search ads at MTV.com, Nickelodeon.com and other sites run by entertainment company Viacom Inc. under a multiyear partnership announced Tuesday.
The deal initially covers 33 Viacom sites, which also include VH1.com, ComedyCentral.com and BET.com, and has the potential to expand to more than 140 others.
Yahoo is in a battle with search leader Google Inc. and other companies over the lucrative keyword ads, which are generally text ads targeted to a user's search terms or the contents of a Web site.
The ads will be powered by Yahoo's newly launched search marketing system, known as Panama.
Shares of Viacom dropped 29 cents to $40.71 in midday trading Tuesday on the New York Stock Exchange. Yahoo gained 31 cents, or 1 percent, to $31.95 on the Nasdaq Stock Market.
Source: Associated Press/AP Online
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