Yahoo Panama is transitioning out and searches are going to be powered by Bing.
This roll out starts as early as 15Oct for US advertisers. For the rest of the world, it is not announced yet when the transition will take place and we are waiting for timelines.
Impact on your campaigns
I'll spread this out in a later more detailed post but for now, it's important to note that the transition means come 15Oct, ALL search advertisers RE-ENTER the auction and your history will not be maintained. The impact will not be as great compared to if Google and Bing were to merge, for example. This is because Google uses a more robust quality score factor and historical data to determine Ad rank, while Yahoo's algo is not that dependent on history. Am awaiting news from Yahoo on my questions. Till then, fingers crossed..