Yahoo Put’s on a Happy Face as Cuts Start
After reporting a loss of 64% in earnings for the third quarter, Yahoo will cut 10% of its workforce or approximately 1,500 employees. Yahoo cut 1,000 jobs earlier this year has lowered it projected earnings for 2008. Chief Executive Jerry Yang still believes Yahoo has the right strategies in place to grab its share of internet ads when the advertising market rebounds.
An optimistic Yang said “The steps we are taking this quarter should deliver not only near-term benefits to operating cash flow, but should also substantially enhance the nimbleness and flexibility with which we compete over the long term. We enter this slowing market with competitive advantages as the destination of choice for consumers and a leader in providing online advertisers with the broadest set of advertising management tools and products in the industry. We plan to continue building on those strengths.”
More Info:
CNet article here
AP article here
LA Times article here
Access the Yahoo earnings release here
Scripps Networks Takes Their Shows to YouTube
YouTube has been posting rising numbers every quarter, but people still want to know how they plan to make money from those numbers. Well, an agreement between Scripps Networks and YouTube may start to show us how that money will be made.
Scripps Networks has announced that it will have “lifestyle” channels on YouTube that will carry clips from its television properties such as Food Network, DIY Network, HGTV and Fine Living Network.
President of the interactive group at Scripps Networks, Deanna Brown, said “Having Scripps Networks channels available on YouTube offers our brand enthusiasts another touch-point with HGTV, Food Network, DIY Network and Fine Living Network; while also giving those new to the brands a chance to sample our content.”
Brown knows this area well; she had been general manager of Yahoo’s Media Group’s Lifestyles business unit before joining Scripps Networks.
This would definitely bring higher quality video to YouTube but the question will be whether these “lifestyle” channels fit the YouTube viewers.
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See the Scripps Networks channels YouTube:
http://www.youtube.com/foodnetworktv
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