Lycos Sues Overture Following Yahoo Acquisition
It emerged this week that internet portal, Lycos Inc is suing commercial search
services provider, Overture following the latter's acquisition by Yahoo. In its complaint, Lycos alleges that Overture breached a services agreement
between the two companies which stated that Overture would inform Lycos if control
of their business relationship were ever to be turned over to a Lycos competitor Lycos claims that Overture's failure to do so has left it "in an untenable
position by which it is dependent on a major competitor for an essential service."
The firm is reportedly seeking $800,000 in fees which it claims that Overture
has neglected to pay, in addition to unspecified damages. Overture has responded to the allegations, announcing in a statement that: "We understand that a lawsuit has been filed by Lycos and as a result,
Lycos has removed Overture listings from its site in the US. We do not believe
they have a right to take down our listings and we are currently evaluating
all of our options. This does not affect our deal with Lycos in Europe.". .
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