Microsoft is set to launch an ad marketplace with placements linked to specific web searches, according to the Financial Times. Just as Yahoo is set to launch its own contextual ad network to compete with Google's AdSense product, Microsoft plans to join the fray in the more established market of auctioned search term media dominated by Google's AdWords product and Yahoo's Overture network. To date, Microsoft has relied on Yahoo's online ad sales systems to sell its own search media. In related news, ClickZ reports a canvassing of the industry shows most buyers would welcome the new competition, so long as the new players brought some new features or value.