Item 8.01. Other Events
On May 19, 2009, Ask Sponsored Listings, a division of IAC Search and Media,
notified LookSmart Ltd. (the "Company") that it does not intend to renew the May
2005 AdCenter License, Hosting and Support Agreement (the "Agreement") upon its
expiration. The Agreement, as amended, expires by its terms on December 31,
2009.
For the quarter ended March 31, 2009, revenue from Ask Sponsored Listings
pursuant to the Agreement represented $1.1 million, or 89%, of the Company's
Publisher Solutions revenue.
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