Media News - Friday, September 03, 2010
AOL renews Google search agreement
AOL Inc said on Thursday it has renewed a search agreement with Google Inc, further cementing a decade-long partnership as AOL tries to turn around its business. The new five-year deal, effective immediately, includes a revenue share on a per-search basis. Additional financial terms were not disclosed. For the six months that ended in June, AOL's advertising revenue associated with the Google relationship was $209 million. The new agreement allows AOL to place its content on YouTube with both camps sharing ad revenue placed against the video. AOL is also working with Google to create an AOL mobile search product. AOL and Google's 2006 contract was set to expire in December, setting off months of speculation as to what company, including Microsoft and its Bing search engine, AOL planned to partner with for search. (Reuters)
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