Seven newspaper chains representing 176 daily papers across the country has announced a partnership with Yahoo! Inc. (YHOO). They will share content, advertising and technology, a sign that the hesitant and wary newspaper industry is increasingly willing to work with the technology companies that they once saw as a threat, according to this NYTimes.com article.
In the first phase of the deal, the newspapers will begin posting employment classified ads on Yahoo's classified jobs site, HotJobs, and start using HotJobs technology to run their own online career ads. The long-term goal is to see newspaper content tagged and optimized for searching and indexing by Yahoo.
This is a great move for Yahoo, who hopes to regain the confidence of investors and marketers and can work in their favor in the competition with rival Google Inc. (GOOG), by putting them in a position of willing partner to traditional media companies. Of course, this can't hurt the newspaper companies who have struggled in recent years with readers and advertisers who have turned to the Internet. Read the full article here.
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