Microsoft and Yahoo have postponed finalizing their search deal, according to an October 28 filing with the Securities and Exchange Commission (SEC). The companies intended to complete the deal by October 27, but have apparently run into some issues. "Given the complex nature of the transaction, there remain some details to be finalized," said the filing, adding that both parties are working as quickly as possible to reach agreements, and have made good progress to date.
The pending deal was first announced in July, and will see Microsoft's Bing as the exclusive search provider for Yahoo's sites. While a delay may seem like bad news, Yahoo and Microsoft have plenty of time to sort things out. An initial roll-out isn't slated until next year at some point, and it has been said that full implementation won't occur until at least 24 months after regulatory approval. The companies are now looking to close the deal by early 2010.