Google's Girth Boosts Yahoo!

As Yahoo! and AT&T renegotiate terms, this is likely to weigh in Yahoo!'s favor.

Indeed, Viacom may not be the first company threatened by Google that winds up benefiting Yahoo!. In March, GE's(GE Quote) NBC Universal and News Corp.(NWS Quote) announced a partnership to stream their video libraries over the Internet.

Yahoo!, along with other prominent Internet media companies, was slated as a distribution partner. The deal will result in free content and traffic for Yahoo!, even as old media companies give away their most precious content.

As fears about Google's power continue to grow, so will Yahoo!'s attractiveness as a partner.