Yahoo CEO Visits Capitol Hill, Seeks Support for Google Ad Deal

Authored by Mark Hefflinger on June 19, 2008 - 8:03am.

Washington - Trying to assuage antitrust concerns, Yahoo (NASD: YHOO) CEO Jerry Yang on Wednesday met with Congressional leaders on Capitol Hill to outline details of the company's recently signed ad pact with Google (NASD: GOOG), Dow Jones Newswires and other media outlets reported. Under the deal announced last week, Yahoo will run ads supplied by Google alongside its own search results, as well as on some of its web properties in the U.S. and Canada.

Some lawmakers, however, have expressed concerns about the deal's ramifications, citing recent statistics showing that Google and Yahoo together accounted for 80% of online searched in the U.S. during April.

Yang reportedly met with Sen. Herb Kohl, chairman of the Senate Judiciary Committee's Antitrust Subcommittee, as well as Senate Majority Whip Richard Durbin House Energy and Commerce Telecommunications Subcommittee Chair Edward Markey.

Though he did not meet with Yang, Sen. Joe Barton, the ranking Republican of the House Energy and Commerce Committee, also expressed his concerns in a statement.

"I am concerned about how this collaboration will impact competition within the online search advertising industry," Barton wrote.

 

Related Links:
http://snipurl.com/2l8i0 (PDF of Barton statement)

http://snipurl.com/2l8ij (Fortune)

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