Internet search company LookSmart Ltd said on Monday that Microsoft Corp.'s MSN Internet division will end its licensing agreement after Jan. 15, 2004, which will "adversely affect" LookSmart's earnings outlook.
San Francisco, California-based LookSmart said that Microsoft chose not to renew its distribution and licensing deal with the company, which provides paid search technology that allows advertising to be displayed along with search results.
"LookSmart's business and financial results will be materially and adversely affected following the end of the MSN relationship," LookSmart said in a statement. "Microsoft accounted for approximately 65 percent of listings revenues, and all of LookSmart's licensing revenue in the second quarter of 2003."
News source: Reuters.com
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