Microsoft releases new Windows Live IM service

Microsoft launched on Monday its newly branded instant messaging system, Windows Live Messenger, the first major release in a wave of online services Microsoft plans to offer to grab a larger share of Web advertising revenue.

Microsoft's suite of Windows Live services, which includes e-mail, search, mapping and social networking, aims to unite the company's various Web programs under a unified brand and look so the world's largest software maker can better compete against Yahoo and Google in the growing online advertising market.

Read the complete story here. (Reuters)

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