Yahoo! (YHOO) is trying to play catch-up in the celebrity gossip game. The beleaguered Internet company launched a new site called omg! — presumably to stand for Oh My God or, for those who prefer to not blaspheme, Oh My Gosh — last month and is now heavily promoting it on the Yahoo home page.
Can Yahoo gain ground on the established celebrity gossip sites? The company does have a partnership with the GE (GE)-owned NBC Universal TV show “Access Hollywood,” for content. And Yahoo appears set to make money from omg! It has signed on Unilever (UL) and Pepsi (PEP), which have a Pepsi-Lipton tea joint venture, to be exclusive sponsors on omg!
In many respects, the launch of omg! seems to be Yahoo’s latest attempt to prove to Wall Street that it has all the necessary pieces to make it a preeminent online resource for information of all types.
Source: MediaBiz
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