Yahoo! Inks Content Deal with 150 Newspapers
(Extracted from Marketwatch, November 20, 2006)
Yahoo! on Monday announced partnerships with more than 150 daily U.S. newspapers to deliver search, graphical and classified advertising to consumers.
The arrangement will start with recruitment advertising, combining the features of Yahoo and HotJobs.com. Next up is for Yahoo! to provide search, content and local applications to all the newspapers' Web sites.
The deal is expected to help the newspapers provide a global stage for their locally focused articles, a factor that's proved very hard to do in the past. Yahoo! also intends to provide its technology to sell ads on the newspaper Web sites, offer its own local products such as event listings and Yahoo! Maps, and to distribute the news stories via Yahoo's search engine.
"We believe the local segment is largely untapped and provides significant opportunities to expand audience engagement and subsequently grow local advertising," Yahoo~ Chief Executive Terry Semel said in a statement.
The newspapers are group among six major chains, representing more than 12 million editions sold each day in 38 states. The chains are Belo Corp., Cox Newspapers Inc., Hearst Newspapers, Journal Register Company, Lee Enterprises, Incorporated, MediaNews Group, and, The E.W. Scripps Company.
Dean Singleton, head of MediaNews Group, publisher of The Denver Post and the San Jose Mercury News, called the arrangement a "transformational" deal, according to a statement.
Yahoo!'s newspaper deals, the financial terms of which were not disclosed, show how some of the biggest Internet companies are focusing more intently on working with older, more traditional media.