Yahoo! takes stake in AudioNet

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Yahoo! is taking a minority stake in AudioNet and partnering with the Internet broadcast company, it announced Jan. 7. Yahoo! has invested $1.35 million in AudioNet. Meanwhile, Yahoo! will become the premier distributor for AudioNet's broadcasts for live events, starting in Yahoo! Sports and Yahoo! NetEvents and rolling out throughout the search engine. The announcement comes two days after Yahoo! took a minority stake in online community GeoCities. Jeffrey Mallet, Yahoo! senior VP-business operations, said to expect Yahoo! to make more investments and financial alliances. "We've been building what can be viewed as a Web online service," Mr. Mallet said.

Copyright January 1998, Crain Communications Inc.

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