SUNNYVALE, Calif. (AP) — Microsoft will reimburse Yahoo for up to $150 million in expenses if their proposed Internet search partnership is approved by regulators.
The financial commitment disclosed Thursday was among the minor changes that Microsoft and Yahoo made to a letter of intent signed in July. The companies signed the final contract last week.
The $150 million in reimbursements will supplement the $50 million in annual payments that Microsoft had already promised Yahoo during the first three years of their 10-year contract.
Yahoo will also get to keep 88 percent of the revenue generated from the ads appearing alongside the search results, even though Microsoft will be supplying the technology.
