X

The Seven Network and Yahoo! have announced a deal to combine their online, mobile and IPTV businesses in Australia and New Zealand.

Under the terms of the agreement, Seven and Yahoo! will form a new 50-50 holding company that will own Yahoo! Australia & NZ.

Seven and Yahoo! will each hold three of the six board seats in the entity. The two companies will combining their online teams and are expected to launch a new name and distinct online presence in late January, coinciding with Seven’s coverage of the Australian Open and the Olympic Winter Games in Torino, as well as the opening weeks of the 2006 television season.

The vision for the combined teams is to create the best entertainment, information and communications experience for Australian internet and mobile users, the company said in a statement.

New consumer offerings will ultimately be available across online, mobile and IPTV in areas such as news, sports, entertainment, TV, games, music, and travel. Seven will also contribute AUD$10 million to match the existing development capital in the business, offline promotion through the Seven Network and Pacific Magazines, as well as Seven’s 33 percent stake in mobile solutions provider m.Net Corporation Ltd, which is subject to obtaining required consents.

The deal will allow the joint venture to offer advertisers combined offline and online sponsorships across Yahoo! Australia & NZ, the Seven Network and Pacific Magazines.

Correspondingly, by partnering with a leader in local digital content, Yahoo! will be better positioned to exploit opportunities for growth in Australia. Seven is the largest television company in Australia reaching 98 per cent of Australians through its owned and operated stations and affiliate agreements. Seven’s publishing company, Pacific Magazines, is the second largest magazine company in Australia, with more than 6.6 million readers each month across its 15 publications.

Chairman and chief executive officer of Yahoo! Inc, Terry Semel, said: “Yahoo! and Seven have very complementary businesses and brands, and we see this as a tremendous opportunity to build a leadership position in Australia. This is the best combination to benefit from increased broadband penetration, rich media consumption, and the growing cross-media advertising spend. Together, I believe we can deliver the most engaging and innovative rich media experience for Australian audiences and advertisers.”

Executive chairman of Seven Network Limited, Kerry Stokes, said: “We are building on our strengths to create a broad media company focused on the delivery of relevant content to all Australians across a number of delivery platforms. Yahoo! is the global Internet leader and their focus on developing compelling content to engage with online audiences complements our strategy.” 

728x90 Yahoo! To Merge With Seven in JV
MOTO 36331576 Q3 Ad Banners 728x90 2 Yahoo! To Merge With Seven in JV
728x90 Yahoo! To Merge With Seven in JV
Skullcandy 728x90 1 Yahoo! To Merge With Seven in JV
ChannelNews AZ100 728x90 Yahoo! To Merge With Seven in JV
Px7 S3 728x90 1 Yahoo! To Merge With Seven in JV
728 x 90 Yahoo! To Merge With Seven in JV
GOTHAM 728px x 90px Yahoo! To Merge With Seven in JV
4Square Media Banner Ads Update at 5 July JSAU05JUL1 Buddy 728x90 1 Yahoo! To Merge With Seven in JV
Flick of a switch 728x90 1 Yahoo! To Merge With Seven in JV
JBL TourPro3 728x90 Yahoo! To Merge With Seven in JV
4Square Media Banner Ads Update at 5 July JSAU05JUL1 MR 728x90 1 Yahoo! To Merge With Seven in JV
appliance retailer leaderboard may 728x90 Hitachi updated Yahoo! To Merge With Seven in JV
Marshall 728x90 1 Yahoo! To Merge With Seven in JV
AU X8 Banner 728x90 Yahoo! To Merge With Seven in JV
BlueAnt 4SQM PumpAirUltra 728x90px Yahoo! To Merge With Seven in JV
ELX DIG Crosscat Promo 728x90 Mar25 Yahoo! To Merge With Seven in JV
250527 SAV Channel news June25 Leaderboard 728x90 1 Yahoo! To Merge With Seven in JV
Uniden Channelnews SoloX July 2024 728x90 1 Yahoo! To Merge With Seven in JV
Arlo July Promo Digital 728x90 2 Yahoo! To Merge With Seven in JV
FA 979 HN MDF SG14 14gen 728x90 1 Yahoo! To Merge With Seven in JV
Westan 728x90px Yahoo! To Merge With Seven in JV
HAIER Series 600 FLW HPD Pairs 728x90 1 Yahoo! To Merge With Seven in JV
Hisense KV BannerAd 728 90 Yahoo! To Merge With Seven in JV
BEL2535 BPB024 4SQ Banners 728x90 Yahoo! To Merge With Seven in JV


YOU MAY ALSO LIKE