Google, FTC, Reach Antitrust Agreement

NEW YORK ( TheStreet) - Google ( GOOG) and the Federal Trade Commission have announced a deal to end the Federal agency's nearly two-year old antitrust probe. The search engine leader has agreed to make changes, voluntarily, to its current Internet search practices.

Google has reportedly agreed to allow advertisers to have more say over how their ads appear on the search results listings page. The Internet giant also agreed to limit the use of reviewers' "snippets" and other quotes gathered from rival providers.

Today's deal is somewhat unusual in that the agreement provides for no long-term oversight by the FTC - a usual stipulation in settlements such as this.

Google reportedly also agreed to settle the investigation into how its handled patents obtained in the deal to buy the former Motorola Mobility in mid-2012.

Today's settlement has no bearing on similar investigations of Google by European regulators.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.

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