From The New York Times: SAN FRANCISCO, June 20 — Just one day after the management shake-up at Yahoo, the company’s board was called on to make a decision that had nothing to do with the resignation of Terry S. Semel as chief executive or the appointment of the co-founder Jerry Yang to succeed him.
The board voted Tuesday to approve the acquisition of Rivals.com, an online network focused on college and high school sports, a deal the company plans to announce today.
The move is intended to bolster Yahoo’s position as an online destination for sports fans, where it competes with ESPN.com, Foxsports. com and others. . .
It is not a major acquisition. But Yahoo executives said buying another content provider underscores the company’s commitment to its media group, based in Santa Monica, Calif., whose strategy has shifted over time and whose future has been a subject of speculation since its chief, Lloyd Braun, left in December.
“We are very serious about leading in the media space,” said Scott Moore, senior vice president for news and information at Yahoo. “This deal will help us connect with the college and high school sports fan.”
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