What data on users may be shared in any deal has to be part of the regulatory review if Google and Yahoo! create an ad-serving pact. Yahoo! has expanded its behavioral targeting, explaining that “[W]ith more behavioral data, real-time updates and audience modeling, Yahoo! Behavioral Targeting can deliver larger audiences and better performance than before.” Google is moving slowly, we believe, to enable behavioral targeting over its network, including the services offered by its DoubleClick division. As we have said, there are also serious privacy concerns involved with any Microsoft takeover. But privacy advocates will need to press policymakers to engage in a serious examination of the data collection issues. Given the growing recognition that IP addresses are among the data points which reflect our identity, these upcoming alliances and mergers should lead to the kind of global privacy debate about online advertising that has been lacking so far.