Posted May 16, 2008 5:00 pm by with 7 comments

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goohoo logoIf you haven’t had enough Yahoo news yet today, you’re in luck. Personally, I might puke if I hear another story on Yahoo, so I just won’t listen. You guys read on.

The New York Post (as Craig Ferguson would say, “Ptew! But it’s good.”) reports on rumors that Yahoo is working on another big deal with Google. Now that’s a pretty big deal. Even bigger deal: they seem to be envisioning the deal as something larger than just a two-company search advertising deal:

The two companies plan to structure a deal as an “open platform” system, which would allow not only Yahoo! and Google, but also Microsoft, AOL, Ask.com and anyone else to bid for the right to serve up ads tied to keyword searches.

The Post cites two anonymous sources (because two are better than one!) for this information.

A Google/Yahoo search advertising deal has long been on the horizon, since the first AdSense for Search tests announced five weeks ago. After announcing a “two week test,” eight days later Yahoo and Google were supposedly ready to make the deal permanent. Google has insisted that the FTC would okay a deal with Yahoo, but no formal announcement has come.

Now, of course, they’re acting a bit more concerned about approval, according to the sources. Apparently “Google General Counsel Kent Walker is working hard on the precise structure and language of the deal in the hopes of minimizing regulatory scrutiny.” That, and to shut up all the chatter about other deals looming large, right?

The Post talked to a few marketers, namely Kevin Lee of Did-It and Michael Kassan of Media Link, who caution that this deal might create “then false sense of a level playing field,” since Google will probably win pretty much all the cheezburgers advertising offered.

So which shoe will drop first? A WPP announcement, a Google announcement, a Microsoft announcement or an Icahn announcement?