Yahoo! yesterday unveiled a marketing partnership with Japanese electronics giant Sony, the first big deal since the online portal appointed ex-Warner Bros potentate Terry Semel as chief executive in April [WAMN: 18-Apr-01].
Under the agreement, Yahoo! will develop Sony-branded versions of the My Yahoo! personalised portal service, advertising the Japanese group’s online services and consumer products.
Sony will promote the venture through marketing campaigns and produce computers with in-built links to the co-branded site.
Although no financial details were forthcoming, both companies hailed the alliance as “mutually beneficial”. Yahoo! hopes to generate users, while Sony wants a global advertising platform.
The deal follows two years of talks between the companies. According to Semel, the duo hope to continue co-operating in future ventures, though Howard Stringer, chief executive of Sony’s US division, added: “We have begun dating and holding hands, it is not a marriage.”
News source: Financial Times