Yahoo! Closes Right Media Deal

NEW YORK Yahoo! said it has completed its $650 million acquisition of Right Media.

With the deal completed, Right Media CEO Michael Walrath will become svp of the Right Media Exchange. He will report to Yahoo! president Sue Decker.

Yahoo! in late April inked a deal to acquire the 80 percent of Right Media it did not own. It had acquired a 20 percent stake in the company in October 2006 for $30 million.

The Right Media Exchange lets publishers auction off ad space to ad networks and advertisers. Yahoo! has participated in the exchange since investing in Right Media, and has said it plans to sell most of its non-premium Web inventory in this fashion.

Separately, Microsoft and aQuantive expect their $6 billion deal to close next month, according to a regulatory filing. Seattle-based aQuantive said in a Securities and Exchange Commission filing that the acquisition agreement has received regulatory clearance from the German Federal Cartel Office yesterday. This follows the decision by the Federal Trade Commission here not to further review the merger for competitive concerns.

Still pending is Google’s $3.2 billion acquisition of DoubleClick. The FTC in May decided to extend its review of the merger, while critics like Microsoft raise concerns the deal could squelch competition in the online ad market. Privacy groups have also criticized the deal for potentially giving Google too much information of Web users’ habits.