SAN FRANCISCO (MarketWatch) — Yahoo Inc. and Microsoft Corp. announced Thursday morning that their search agreement has received clearance from both the U.S. Department of Justice as well as the European Commission. The deal — first announced in July of 2009 — will involve Yahoo handing over its Web search activities to Microsoft in exchange for a portion of the ad revenue generated. In a joint statement, the two companies said they plan to complete the transitioning of search by the end of the year, though some advertising partners may not be moved until the following year.
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