NEW YORK (CNNMoney.com) -- Microsoft and Yahoo reached a long-awaited partnership Wednesday in a bid to challenge Google's dominance in online search.
Under the 10-year deal, Yahoo.com and Bing.com will maintain their own branding but search results on Yahoo.com will say "powered by Bing." Yahoo, in turn, will be responsible for attracting premium advertisers.
Microsoft will pay Yahoo 88% of the revenue it gains from searches on Yahoo's sites.
Microsoft will also have the rights to integrate Yahoo's search technology into its own existing Web search platforms.
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