Yahoo! Silences Two Content Outlets6/26/2002 5:00 AM Eastern
Yahoo! Inc. apparently isn't finding much
to shout about when it comes to broadcast Internet content these days, so it is
turning off its broadband finance outlet and a music site.
The Sunnyvale, Calif.-based Internet-service provider is switching off Yahoo
Finance Vision, touted at its 2000 launch as the first online TV network. The
site included live and archived video news with real-time stock tickers and
other financial information.
Yahoo! is also silencing Yahoo Radio, the music outlet that let users listen
to radio stations online. Yahoo Radio came with the ISP's $5 billion purchase of
Broadcast.com Inc. in 1999.
Fewer than 30 employees will lose their job as a result of the closures, as
many will be transferred to other divisions, according to reports.
Both outlets were part of Yahoo!'s broadcast division, which had been
foundering in the past year as ad sales slowed and broadband penetration was
slower than expected. As with most other Internet businesses, Yahoo! has been
refocusing its business recently with an emphasis on profitability.
But the company is not exiting broadband -- it recently forged a deal with
Baby Bell SBC Communications Inc. to provide the content and start pages for