Google nabs CNN ad deal from Yahoo
The search giant says it signed a multi-year agreement with CNN.com, in a blow to rival Yahoo.
Google said Tuesday that it signed a multi-year advertising agreement with CNN.com, in a win over the news site's former partner, Yahoo.
As part of the agreement, Google will be the exclusive provider of contextually targeted text ads on CNN.com's pages (via Google's AdSense program). The deal does not include the placement of image or video ads, however.
Financial terms of the agreement were not disclosed.
The deal is a blow to Yahoo, whose search-advertising group (formerly known as Overture) has been an ad partner of CNN.com for more than three years. In 2004, Yahoo's Overture extended its long-running agreement with CNN.com to supply contextually targeted ads alongside content. The news also comes not too long after Yahoo has updated and improved its ad-delivery system.
Google said that through its partnership, it will connect CNN.com with hundreds of thousands of small and large advertisers. David Payne, senior vice president and general manager of CNN.com, apparently liked the sound of that.
"Our new relationship with Google will deliver relevant ads to our users, enhancing their overall experience on CNN.com. We look forward to a successful partnership," he said in a statement.
Update: CNN.com also recently replaced Yahoo as its supplier of Web search and advertising results, according to CNN spokeswoman Jennifer Martin. In July, CNN.com started serving Web search results, including sponsored ads, from Google. That means Yahoo has lost out with CNN twice this summer because of Google.