Yahoo! stock rises on news of content deal with ABCNews.com

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ABCNews.com, part of the Walt Disney Internet Group, forged a content distribution and broadcast services agreement with Yahoo! to provide its video, audio and text news stories to Yahoo! News. As part of the agreement, ABCNews.com is sending daily video feeds to Yahoo! News, as well as regularly scheduled excerpts from "World News Tonight," "Good Morning America" and breaking news. Audio is also being provided in the following: news, sports, technology and entertainment. Yahoo! Broadcast is providing the capabilities to stream ABCNews.com broadcast content available on Yahoo! News. While Yahoo! has struck agreements with various media partners before, this one comes at a time when investors are looking to Yahoo! to forge some kind of media partnership to fortify itself against a soft market for online ad sales. Reports have circulated in the past year or two that Yahoo! and Disney were in merger talks. Yahoo!'s stock rose on the speculation, closing the day up 5.7 percent at $35.81.

Copyright December 2000, Crain Communications Inc.

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