NEW YORK ( TheStreet) -- Something happened last week that appears to have flown completely under the radar. Search giant Yahoo! (YHOO - Get Report) and CNBC, which is owned by Comcast (CMCSA), the largest cable provider in the U.S., formed a content-sharing alliance to distribute business news and original content as a way to not only shore up their respective digital online presence, but also extend their individual web audience.Yahoo!, which continues to battle credibility issues, has been under a considerable amount of scrutiny of late. The company has absorbed more punishment from Wall Street than any company deserves due to the scandal that surrounded Scott Thompson, its recently ousted CEO. It understands now that what it needs more than anything is a fresh start. While the partnership with CNBC does not wipe the slate clean as would be the case if acquired be a name such as Microsoft (MSFT), it does remind investors that the company is still a dominant media power and likely will be for many years to come.
Yahoo! Rising From the Ashes but Stock Remains Cold
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