Yahoo! announced that it had made a few deals with some very prominent newspaper publishers yesterday.Â Yahoo! made a deal with a company that represents over 264 different newspapers.
The New York Times believes that striking this deal is an attempt to eclipse the deal that Google had made with DoubleClick, an acquisition worth $3.1 billion in cash.Â â??They are both trying to extend their influence and business opportunities beyond their own properties,â? stated Stewart Barry, a partner and Director ofÂ ResearchÂ at ThinkEquity Partners.
The 264 newspaper companies will strategically place Yahoo! advertisements within their websites and share the revenue that is produced.Â Â This model isÂ similar to Google’s AdSense program.Â Yahoo!’s version is called Project Panama.
Some of the companies involved with this partnership include: MediaNews Group, Hearst, Belo, E.W. Scripps, the McClatchy Company, and Media General.
“We are very interested in aligning not with everyone, but on a selective basis with publishers that have a quality audience where there is an alignment with Yahooâ??s audience,” stated Hilary Schneider, a Senior VP at Yahoo!’s Marketplaces division.
This is a great move for Yahoo! as it positions the company to put up a fightÂ against Google’s advertising shopping spree.Â Now hopefully, Project Panama will releaseÂ for all the publishers soon.