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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news