erick schonfeld from techcrunch. steve see levy officer "wired" thank you very captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org

here in new york, th me, steven levy of "wire magazine an erick schonfeld coed for of chcrunch blog. i am pleased t have all here. nick, telle, how this deal happened first. >> it startedast year wh the e.o. of mrosoft, steve bamer, making a unsolicited bid for closed to $48 billion to acquire i can't ovment never happened, yao! resistedhe offer. temp apartfast forward to about janry, yahoo! has new c.o., carol bartes and microsoft and yahoo! start lking about a more limit dealnot a full blown acisition in which microsoft basically take overhe search operations, handle the search operations on yahoo! in exchange for some value. and the deal went throug all sorts of fits and starts and finely arrived at the deal y described a momentgo. all of this being designed to improve microsoft's fairly po position in search right now which street a highlylucrative rket, the online advertising maet that accompanies search. and one that microsoft reall has not had much success in o its own. >> charlie: is this a gd deal for just crosoft or od al for microsoft and yahoo!? >> the shareholds of both

here in new york, wi me, even levy of "wired" magazine and erick schonfeld coed for o techcrunch blog. i am pleased to have all here. nick, tell m how this deal happened first. >> it started lt year wit the c.o. of micsoft, steve ballr, making an unsolicited bid for closed to $48 billiono acquire i can't homent never happened, yaho resisted t offer. temp apart, st forward to about janua, yahoo! has new c.e., carol bartes and microsoft and yahoo! start taing about a more limited deal, t a full blown acquition in which microsoft basically take over t search operations, handle the search operations onahoo! in exchange for some value. and the deal went through all sorts of fits and starts and nely arrived athe deal you described a moment a. all of this being designed to improve microsoft's fairly poor position in search right now which street a highly crative maet, the online advertising mark that accompanies search. and one that microsoft really has not had much successn on its own. >> charlie: is this a goo deal for just miosoft or go de for microsoft and yahoo!? >> the shareholderof bo