Yahoo! Revamps Media Group
The changes come as the Sunnyvale, Calif.-based company changes the focus of the business from producing original content to distributing content developed by partners. Yahoo! scaled back plans by Braun to create video productions because Chief Executive Terry Semel found them too similar to television programs. These changes led to friction between Braun and Semel that insiders say has since been resolved.
During a speech last week at the company's analysts' meeting, Braun said that Yahoo! wanted to create unique experiences for users that would be difficult for competitors to replicate. The company couldn't immediately be reached for comment on the media group changes, which had also had been reported on the gossip site ValleyWag.
Yahoo!, which has more visitors than any other Web site, runs some of its most well-known features though the media group, such as fantasy sports, business news and music. Braun was hired to run the business in November 2004.Vince Broady, a former CNet (CNET) executive, is joining Yahoo! as head of its games and entertainment unit. At CNet, his responsibilities included GameSpot, which he cofounded. Yahoo! Sports head David Katz will now also run Yahoo! Studios, which will focus on the development and production of event-based, original and user-generated content for the business, the memo says. Scott Moore, who oversees news, finance and technology, will now run health and lifestyles. Shawn Hardin will leave Yahoo! to pursue other career opportunities, the memo says. He was hired by Yahoo! from Time Warner's (TWX)America Online unit last year. Shares of Sunnyvale, Calif.-based Yahoo! rose 71 cents to $31.17 in early trading.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV