Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Telecom and Yahoo!7 confirm change of partnership

Friday 15th April, 2011

Telecom and Yahoo!7 confirm change of partnership

As part of their continued relationship, Telecom NZ and Yahoo!7 have today announced changes to the ownership of Yahoo!Xtra.

As part of the changes Telecom has sold its shares in Yahoo!Xtra to Yahoo!7. Yahoo!7 therefore owns 100 percent of Yahoo!Xtra. Prior to this agreement Telecom New Zealand owned 49 percent and Yahoo!7 owned 51 percent. The current commercial partnership for Yahoo!7 to support Telecom’s broadband customer base will continue.

The Yahoo!Xtra business will rebrand to Yahoo! New Zealand with all Yahoo!Xtra staff remaining employed by Yahoo! New Zealand.

Alan Gourdie, Telecom Retail CEO, said in the coming months customers will notice changes to the branding on the site, however Yahoo!7 and Telecom remain firm partners. Yahoo! New Zealand will continue to deliver Telecom customers the same services as today such as Yahoo! Mail, Flickr and My Yahoo!

“The Yahoo!Xtra business has been extremely successful over the past few years. The internet is a fast moving industry and it makes sense for both businesses to evolve the ongoing relationship,” says Mr Gourdie.

According to Greg Brown, Chief Financial Officer, Yahoo!7: “Yahoo!Xtra is already New Zealand’s favourite homepage and is a profitable company. Telecom customers and all New Zealanders will be able to continue to access the great local and international content along with the Yahoo! services that they have come to love.”

This sale is not material for Telecom NZ and does not result in any change to guidance.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news