Shaw Newspapers has 25 daily and weekly newspapers covering northern Illinois and Iowa, The Buffalo News and its paper covers Buffalo, NY, the Times Publishing Co. produces The Erie Times News in Erie, PA, and the Columbian Publishing Co. publishes The Columbian in Vancouver, WA.
Yahoo!'s partnership with the Newspaper Consortium spans multiple initiatives, including for many members, the adoption of Yahoo! HotJobs as their exclusive online recruitment solution, the distribution of headlines across Yahoo!, the adoption of Yahoo! Search on newspaper sites, cross-selling of advertising with newspapers' local sales forces selling local advertisers' inventory on Yahoo! and Yahoo!'s national sales force selling national advertising on newspapers' sites.
The company said that with the addition of these publishers, the Newspaper Consortium now includes 634 participating newspapers, 425 of which are dailies, covering 30% of all US daily newspapers and 37% of all US Sunday circulation.
Yahoo! has more than tripled the number of member companies in the Consortium since its inception in November 2006, significantly strengthening its Advertiser/Publisher Network and advancing its advertising strategy to be the "must buy" for the most advertisers.
Yahoo! said that by integrating with the newspaper partners and delivering better reach, relevance and performance, Yahoo! HotJobs has experienced 50% year-over-year traffic growth, becoming the fastest growing Web site among the leading job boards and surpassing Monster.com in the US.
Additionally, the company said that the first phase of advertising cross-sales has begun, with the sales staffs of several newspapers integrating Yahoo! inventory into sales packages for their local advertisers. The program would be expanded during the next several months, allowing Consortium members to target ads to specific audience segments.
Vice President of Newspaper Consortium for Yahoo!, Lem Lloyd commented, "Yahoo!'s continued momentum with the newspaper industry shows that current and new Consortium members value the opportunity to combine the newspapers' own unmatched local news and deep local advertising relationships with Yahoo!'s leading technologies and extensive online audience."
YHOO closed Thursday's regular trading session at $28.42, down 41 cents or 1.42%. In the extended hours trading, the stock further lost 2 cents or 0.07% to trade at $28.40. During the past 52-week period, the stock traded in the range of $18.58 - $34.08.
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