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I wonder if Yahoo would be allowed to build a new search business. I'm sure they could do that for way less than $20 billion.

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A deal with MS, for $20B, will include a clause that says that MS will be the default search engine and search engine advertiser on all of the Yahoo's properties for a very long time. So what would Yahoo do with a new search engine?

They couldn't do it without Overture context advertising patents, though.

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