DivX Sues Yahoo
Techtree News Staff, Nov 18, 2008 1100 hrs IST
Bone of contention -- an advertisement deal
The news comes close on the heels after Google-Yahoo had to end their ad deal after fearing a legal tussle. DivX Inc, the video compression software company sued Yahoo for planning to end their two-year advertising services agreement.
Divx is seeking damages and specific performance under the agreement, which was announced in September 2007. The lawsuit has been filed in California Superior Court in Santa Clara County.
The Yahoo-DivX deal was worth at least $5 million for this fiscal year and according to the agreement it would have offered consumers who downloaded DivX video software tools a co-branded version of the Yahoo Toolbar, along with a Yahoo services-loaded version of IE 7.
According to reports, Yahoo was working in restructuring their agreement with DivX but the two companies could not come to an amicable resolution.
DivX is planning pursue legal action aggressively and the company's Chief Executive Officer Kevin Hell said, "Yahoo's decision to breach is unjustified given DivX's fulfillment of its obligations under the agreement."
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