Yahoo Closes European Auction Sites

Yahoo is closing its European auction services and will instead promote those of rival company eBay.

The move, which will see Yahoo close five auction sites in the UK and Ireland, France, Germany, Italy and Spain, is part of the company’s plan to focus on its key growth areas and re-deploy revenue to its commerce platform.

Yahoo, which has been hard hit by the advertising downturn (see Yahoo! Cuts 400 Jobs Worldwide), has signed a multi-year marketing agreement with eBay to promote the rival company’s European auction services through banner advertisements, text links and other promotions on Yahoo sites.

Mark Opzoomer, managing director of Yahoo Europe, said: “This move means that we will be better able to utilise our resources to more effectively focus on initiatives where we can extend our position and that will drive long-term growth for the company.”

Yahoo will continue to operate its own auction sites in Denmark, Sweden and Norway, where its market position is stronger.

Earlier in the month Yahoo announced plans to stream highlights of this summer’s World Cup over the internet following a deal with FIFA and KirchSport AG, which holds the broadcast rights to the tournament (see World Cup Highlights To Be Streamed Over Internet).

Yahoo UK and Ireland: 020 7808 4200 www.yahoo.co.uk

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