SAN FRANCISCO: The Associated Press has signed a licensing deal with Yahoo! Inc that gives the news co-operative a steady stream of revenue at a time less money is flowing in from newspapers and broadcasters.
The announcement by both companies on Monday didn’t disclose the financial terms of the agreement.
AP says it is still negotiating to renew its online licensing agreements with two other companies with far deeper pockets, Google Inc and Microsoft Corp. Google stopped posting fresh AP content on its website in late December.
Stung by the AP’s first downturn in revenue in years, AP’s management has said the co-operative needs to make more money from the online rights to its stories, photographs and video as more people flock to the Web for information and entertainment.
It’s unclear whether the AP achieved its financial objectives in the Yahoo! deal.
Yahoo! described AP as an important part of its efforts to keep its nearly 600 million worldwide users informed. “We look forward to continuing our long-standing partnership with AP for many years to come,” the company said in a statement.
The duration of the new contract wasn’t disclosed. Yahoo! has been posting AP content on its site since 1998. Its website also relies on other services, including AP rival Reuters, as well as reporters that it employs.
The formula has worked well for Yahoo! even as it has struggled in other key areas, such as Internet search and social networking. Yahoo! pulls in the biggest US Internet audiences in news, sports and finance, according to the research firm comScore Inc. — AP
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment