Will Not Renew Contract with LookSmart is not renewing its contract with LookSmart. This appears to be a major hit for LookSmart as Ask Sponsored Listings revenue generated 89% of LookSmart’s Company Publisher Solutions revenue in Q1 2009 alone.

The partnership between the two companies began in May 2005. The current contract expires on December 31, 2009.

When contacted, said that their Sponsored Listings division is working on the next generation of their platform. No further details are available at this time.

An email to LookSmart’s financial PR firm was not returned.

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