Microsoft and Daum Communications Resolve Antitrust Case and Announce New Online Partnership
This agreement will include select online content from Daum on MSN and other marketing and promotional opportunities between the two companies. The agreement also resolves the companies’ antitrust dispute in South Korea. The settlement includes a cash payment of $10M, together with an advertising commitment valued at US$ 10M plus other business terms estimated at approximately $10M.
Today’s agreement also includes a settlement of all antitrust disputes, including the lawsuit brought by Daum against Microsoft in 2004 in South Korea and withdrawal of Daum’s complaint to the Korean Fair Trade Commission in 2001.
“It is significant that we have reached this settlement with Microsoft on terms that we believe are favorable to Daum, and to be able to work together with Microsoft to build a new business partnership.” said Hyun-Young Kim, Vice-CEO of Daum
“This agreement marks not only the end of our legal dispute, but more importantly, the beginning of a closer working relationship between our companies.” said Tom Burt, corporate vice president and deputy general counsel for Microsoft.
