Eric Schmidt says the deal needs no approval of any sort to continue

Yahoo is grasping at any straw it can find to help keep its sinking stock prices afloat -- as long as the straw doesn't come from Microsoft. Yahoo and Google have agreed to a partnership for advertising that Yahoo hopes will add to its bottom line.

Google CEO Eric Schmidt says that the two search firms are moving ahead with plans to enact the search deal sometime in October.

Schmidt told reporters, "Time is money in our business." Schmidt also said that Google doesn't know the position of regulators eyeing the advertising deal. Because of the lack of knowledge, Schmidt says Google and Yahoo will just continue unabated. CNET News reports that Schmidt and Google still maintain that the deal doesn’t need regulatory approval. However, regulators could raise issues after the deal is done.

CNET News quotes Schmidt saying, "My understanding is that because it's a commercial deal, we have a choice of when we implement it. We voluntarily delayed it so the government could take a look at it. The deal was designed precisely to meet the terms of antitrust laws in the United States, because we knew it would raise these sorts of questions."

Despite Yahoo and Google believing that the deal requires no regulatory approval, many in the advertising industry see it differently. DailyTech reported in September that the Association of National Advertisers sent a letter to the U.S. Department of Justice voicing concerns over the deal between Google and Yahoo. The fear is that placing even more of the advertising market into Google's hands will allow Google to drive up advertising costs.

After the failed negotiations between Microsoft and Yahoo that spanned several months, it's not surprising to find that Microsoft is one of the most outspoken critics of the Google/Yahoo deal. In essence, Yahoo is giving Google exactly what Microsoft wanted -- more spots for advertising dollars and more search traffic.

“And I don't know why [Apple is] acting like it’s superior. I don't even get it. What are they trying to say?” -- Bill Gates on the Mac ads
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