Yahoo! (YHOO) , which has said it doesn't intend to become a television broadcaster, is broadcasting more television.
Earlier this week, the Internet portal announced that it will broadcast a 12-game college basketball tournament later this month in streaming video over its Yahoo! Sports site.
The news comes less than two weeks after Yahoo! officially launched ShoppingVision, an interactive, streaming video shopping site similar to the Yahoo! FinanceVision program launched in March. Yahoo! is broadcasting video of several dozen live sporting events this fall season, a spokesman says.
But Yahoo! isn't just Webcasting the Hawaii basketball tournament; it's naming it, too. The Division I tournament, played Dec. 21-23, will be known as the Yahoo! Sports Invitational. Held on the campus of
Brigham Young University-Hawaii, the tournament will feature eight teams, including USC, Ole Miss and Boise State. The tournament, formerly known as the Pearl Harbor Invitational, will also be broadcast on local television stations in certain markets, according to Yahoo!. The firm has a multiyear agreement to sponsor the tournament, but wouldn't disclose terms.
Separately, on Friday, Mark Rowen, analyst for
Prudential Volpe Technology Group
, cut his price target on Yahoo! but gave a positive review to ShoppingVision, Yahoo!'s newly debuted shopping site featuring short video clips, explanatory text and onscreen ordering. "While the ShoppingVision service is only practical for today's limited pool of broadband users (3.1 million U.S. households), we believe Yahoo! ShoppingVision provides us with an early glimpse of the future potential of retailing on the Internet," Rowen wrote.
Rowen, whose firm hasn't done underwriting for Yahoo!, has a strong buy rating on Yahoo!, but cut his price target on the stock to $90 from $155 "to reflect current market conditions," he wrote.
On Friday, Yahoo! shares fell 69 cents to close at $38.94.