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Seven selling out of Yahoo7

Seven sells 50% stake in Yahoo7 joint venture after 12 year partnership.

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Seven West Media is selling its 50% stake in Yahoo7 to Oath.

Seven partnered with Yahoo in 2006 building a strong brand with online destinations including Yahoo7 homepage, 7News, 7Sport, Yahoo Finance, as well as lifestyle and entertainment destination Be.

At a time when Nine partnered with MSN, Yahoo7 became a good joint venture fit for Seven, including with staff at its Martin Place building. In 2016 Verizon Communications acquired Yahoo in the US for $US4.83B, bringing Yahoo and AOL together as Oath.  The newly-lanched 7Plus, wholly owned by Seven, also replaced the joint Plus7 offering in 2017.

SWM’s Chief Executive Officer Tim Worner said: “Over the past 18 months we have executed our strategy to control the distribution and monetisation of our digital products, and as a result we’re seeing strong audience and revenue growth.

“The natural next step of that strategy is to sell our stake in Yahoo7, which sadly means that we must part ways with our friends in Yahoo7 and our partners in Oath.

“We are proud of all that Yahoo7 has achieved since it launched in 2006 – from day one it has been at the forefront of Australian digital innovation. We leave it in great shape, with an audience of around nine million, and a strong future ahead of it. We wish the team the greatest success in all that they do.”

 

The transaction is expected to complete by August.

 

4 Responses

  1. Makes sense for Seven to do that.
    Yahoo has become a relic of the internet past for most folk, you’ll only really find older folk who stay use a Yahoo email because they made one back in 2003.

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