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New Yahoo boss buys sport website | New Yahoo boss buys sport website |
(4 days later) | |
Jerry Yang has made his first move as chief executive of Yahoo, buying the college sports website Rivals.com for an undisclosed sum. | Jerry Yang has made his first move as chief executive of Yahoo, buying the college sports website Rivals.com for an undisclosed sum. |
Mr Yang took over Yahoo this week after the abrupt exit of predecessor Terry Semel, raising question marks over the internet firm's direction. | Mr Yang took over Yahoo this week after the abrupt exit of predecessor Terry Semel, raising question marks over the internet firm's direction. |
Reports have suggested News Corporation is keen to buy a 25% stake in Yahoo, adding to the pressure on Mr Yang. | Reports have suggested News Corporation is keen to buy a 25% stake in Yahoo, adding to the pressure on Mr Yang. |
The Rivals.com deal will boost Yahoo's US sports offering. | The Rivals.com deal will boost Yahoo's US sports offering. |
Field of dreams | Field of dreams |
The site reports on American football, basketball and other sports in more than 100 colleges and universities as well as focusing on high school sporting prospects. | The site reports on American football, basketball and other sports in more than 100 colleges and universities as well as focusing on high school sporting prospects. |
The site competes with Scout.com, which was bought by News Corp for $60m last year. | The site competes with Scout.com, which was bought by News Corp for $60m last year. |
College sports are highly popular in the US and information about them has significant commercial value. | College sports are highly popular in the US and information about them has significant commercial value. |
Users of the Rivals website, which has about 185,000 subscribers, pay about $10 (£5) a month to access information on results, drafts and scholarships. | Users of the Rivals website, which has about 185,000 subscribers, pay about $10 (£5) a month to access information on results, drafts and scholarships. |
Critics of Yahoo have accused it of a lack of innovation and flat-footedness in the face of rival Google's growing ascendancy. | |
Nevertheless, Yahoo still generates more advertising revenue than any other internet search firm except Google, and has more than 500 million worldwide users. | Nevertheless, Yahoo still generates more advertising revenue than any other internet search firm except Google, and has more than 500 million worldwide users. |
Yahoo's sports section attracted more than 15 million visitors last year. | Yahoo's sports section attracted more than 15 million visitors last year. |
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