Yahoo! and Facebook in an agreement, signs a new advertising partnership, extend and expand distribution arrangements, and settle all pending patent claims between the companies.
Under the agreements, which include a patent portfolio cross-license, the "parties will work together to bring consumers and advertisers premium media experiences promoted and distributed across both Yahoo! and Facebook," stated a press release.
"Yahoo! and Facebook will also work together to bring Yahoo!'s large media event coverage to Facebook users by collaborating on social integrations on the Yahoo! site."
"Since the launch of the original multi-year partnership between Yahoo! and Facebook that allows users to discover and connect news and information on Yahoo! sites and share them with their Facebook friends, Yahoo! has integrated a feature called "Social Bar" on more than 100 of its properties globally, and more than 90 million users have implemented it. As a result, Yahoo! has the largest active user base among all news sites that have integrated with Facebook's Open Graph platform, making Social Bar the world's leading social news application," the press note reports.
"We are excited to develop a deeper partnership with Facebook, and I'm grateful to Sheryl and her team for working hard together with our team to develop this dynamic agreement," said Ross Levinsohn, interim CEO of Yahoo!.
"Combining the premium content and reach of Yahoo! as the world's leading digital media company with Facebook provides branded advertisers with unmatched opportunity," Levinsohn said.
"I'm pleased that we were able to resolve this in a positive manner and look forward to partnering closely with Ross and the leadership at Yahoo!," said Sheryl Sandberg, Chief Operating Officer at Facebook.