Microsoft and Yahoo confirm search deal

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Microsoft general counsel Brad Smith said the firm would file with American regulators next week, agreeing that he believed the firms had "compelling case this is going to increase competition."

Assuming regulatory approval, the plan is set to be fully completed within two years. Bartz said she hopes the deal will be completed by early 2010, with the move to Bing happening within three to six months, staring in major markets like the US.

Job cuts

Bartz said there would be job cuts at Yahoo in the long term.

"Unfortunately, there will be some redundancies," she said on a conference call. She didn't yet know the number of Yahoo employees which would be affected, but said any cuts would occur after regulatory approval and over the next two years.

She said some search employees would be moved to other areas of the business, including display advertising, and that others would be asked to move to Microsoft.

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