Yahoo! Dangles $36m Euro Media Carrot

14 December 2001

US-owned internet search engine Yahoo! has put its $36.3 million (£25m) pan-European media duties up for review. It is not known if incumbent Optimedia will participate.

The review is expected to leave the starting block within the next few weeks, although informal discussions have already been held with a number of media networks by Yahoo’s new European marketing director Catherine Taylor.

The US media account, held by Initiative Media in Los Angeles, is not affected by the European search. Creative, handled in the UK by HHCL & Partners, is likewise immune.

Yahoo! has an eerie track record among dotcoms, having been consistently in the black since day one. However, it has not entirely escaped the current turbulence, posting a dramatic fall in Q1 earnings earlier this year and precipitating the resignations both of its [then] chief executive Tim Koogle and European managing director Fabiola Arrendondo.

News source: CampaignLive (UK)