NEW YORK (TheStreet) -- Shares of Yahoo! (YHOO) were advancing in mid-afternoon trading on Friday as the company announced a two-year streaming and content partnership deal with ESL, the world's largest esports company.
Esports is a growing online professional competition where users compete against each other by playing popular video games.
Yahoo's esports unit is working with ESL to bring esports to mainstream audiences by streaming across Yahoo's platforms, according to a company statement.
The Sunnyvale, CA-based Internet company will cover ESL's major events including the ESL One and IEM global tournaments.
The two companies will also be developing new competitions to be distributed by Yahoo.
Yahoo's esports unit was launched in March to deliver professional coverage of major games and events.
Additionally, social networking company Twitter (TWTR) made a similar move last month when it partnered with ELEAGUE to live-stream the esports league's events on its website.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: YHOO