Yahoo has struck a deal with ABC News to use the media company's news content on its website, work jointly on journalism projects and sell web advertising.
The new partnership announced yesterday kicked off with the debut of GoodMorningAmerica.com on Yahoo and three video series with ABC News correspondents that will run online before airing on television.
The move will ease tensions at the Sunnyvale based internet search company, which is still looking for a successor to former chief executive Carol Bartz.
Just last week, China-based Alibaba Group said that they were interested in buying Yahoo after announcements became public that the company was considering selling. The search company's 43 percent stake in Alibaba is considered one of its most valuable assets.
"All the other noise and swirl is irrelevant for me and my team," said Ross Levinsohn, executive vice president of Americas at Yahoo, while announcing the new partnership at ABC studios on Monday. "We keep our heads down, we do our jobs day in, day out, and the rest of the stuff takes care of itself."
ABC News is expected to maintain its own website. The deal between Yahoo and ABC, which had previously struck a separate content deal in 2000, will not affect standing agreements with other media organizations including the Associated Press and Thomson Reuters.
ABC News and Yahoo's original media staff plan to work closely on projects and the sales teams of both companies will work jointly selling ads. Executives from both sides declined to comment on any financial details of the deal.