[AI] Yahoo to silence podcast service in latest restructuring
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Fri Sep 28 10:07:24 EDT 2007
The Hindu News Update Service
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Friday, September 28, 2007 : 0930 Hrs
Sci. & Tech.
Yahoo to silence podcast service in latest restructuring move
San Francisco, Sept. 28 (AP): Yahoo Inc. will jettison a little-used service for finding and rating audio programs known as "podcasts," the latest casualty
of the Internet company's rejuvenation effort.
The podcast section will be silenced October 31, according to a notice posted on Yahoo's Web site. It joins several other features that Yahoo has scrapped
as it tries to snap out of a financial funk that has depressed its stock price and triggered a reshuffling of top management.
Yahoo did not immediately respond to a request for comment about the planned closure of the podcast service.
The latest retrenchment comes near the end of 100-day review of Yahoo's operations that co-founder Jerry Yang announced in mid-July, a month after he replaced
Chairman Terry Semel as the Sunnyvale-based company's chief executive.
Yahoo is expected to dump more services before the overhaul is completed, with its music subscription service frequently mentioned as one of the most likely
Some shareholders have suggested the company also could boost profits by closing the Santa Monica offices that serve as the hub of its news and entertainment
Yang has revealed little about what else might be cut, saying only that there would be no "sacred cows" as he explores ways to revive Yahoo's earnings growth.
The company's profit fell by 7 per cent during the first half of this year.
Yahoo launched the podcast service two years ago in a bid to capitalise on the growing number of people transferring audio files to Apple Inc.'s iPod and
other portable media devices, but the feature never attracted much interest.
In August, the podcast service was the least trafficked section of the 32 Yahoo-owned properties monitored by the research firm Hitwise. The number of August
visitors dropped by 20 per cent from the same time last year, according to Hitwise.
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