US internet group Yahoo! is to take a stake of between 4% and 5% in Taiwan's ChinaTimes.com, the largest Chinese-language news site in the world. Additionally, Yahoo has an option to increase its holding to ten per cent over the next two years.
Yahoo Taiwan also signed a content distribution agreement with ChinaTimes.com.
Stephen Yao, chief strategy officer of ChinaTimes.com, describes the deal as a "very positive gesture ... that highlights the value of content to super portals such as Yahoo". He was, however, zip-lipped about its terms.
Yahoo's founder Jerry Yang was equally bullish: "We're really pleased to be working with China Times in Taiwan to leverage both of our strengths and deliver valuable programming and services to the local market," he said.
News source: Wall Street Journal