Yahoo ABC News Join To Create Web News

October 07 00:00 2011

New York, October 7 (RainbowNewsLine.com) – The internet major Yahoo (NASDAQ: YHOO) as well as the news major Walt Disney groups’ (NYSE: DIS) ABC news have decided to combine together to create new kinds of web based news programs. These programs are expected to draw more audience because of the fact that they will be more interactive. The firms are hopeful that their joint venture will be able to reach close to a 100 million viewers in the near future.

Yahoo is depending upon the large advertising revenues that this joint venture may have to offer. Yahoo has done some preliminary talks and is sure that large brands are ready to put their weight behind the online version of “Good Morning America”. Sources say that Yahoo desperately needs to get these funds since it is facing difficult times. There have been reports of Private Equity firms approaching the internet major proposing a buyout. In fact, the Chief Executive officer, of Alibaba.com was quoted saying that he is interested in taking over Yahoo in case it is up for grabs.

ABC news will obviously get a cut of this advertisement revenue as well. But this deal serves the larger purpose of ABC to go digital in a big way and disrupt the competitors who are still following old methods.

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