NEW YORK (CNNMoney) -- Microsoft Corp., Yahoo and AOL announced a partnership for the buying and selling of each others' online ad space.
Microsoft (MSFT, Fortune 500), Yahoo (YHOO, Fortune 500) and AOL (AOL) said the new agreement, unveiled on Tuesday, would allow them "to offer each others' premium nonreserved online display inventory to their respective advertising customers."
"We're thrilled to partner with Microsoft and AOL and bring to market what we believe will be a more efficient, effective and more effortless way to access true premium inventory and formats, said Ross Levinsohn, Yahoo executive vice president in the Americas, in a news release.
The companies said the integration will occur by 2012. 
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