Sunnyvale, Calif. – Yahoo Inc. and CBS Corp. have agreed to show news clips from 16 CBS stations in markets including Denver, New York and Los Angeles.
CBS and Yahoo will share advertising revenue generated by the clips, which will appear on Yahoo’s news site, the companies said Monday in a statement. Videos from CBS, the top-ranked U.S. television network, will appear on Yahoo beginning today.
The agreement boosts the amount of video on Yahoo’s news site and adds to existing relationships the Sunnyvale- based company has with Time Warner Inc.’s CNN and Walt Disney Co.’s ABC.
New York-based CBS will provide as many as 20 clips per market to Yahoo, the companies said.
“News has seen a huge growth in video traffic,” said Neil Budde, general manager of Yahoo News.
Last month, Yahoo users viewed more than 50 million news videos, up from 4 million a year earlier, he said.
Shares of Yahoo closed down 24 cents at $24.18 in Nasdaq stock-market composite trading Monday. They have fallen 38 percent this year.
Yahoo users will now have direct access to local news video from KCNC-Channel 4 in Denver as well as from 15 other CBS-owned stations in the U.S., the affiliate said.
