Yahoo shuts Maven video service
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[July 03, 2009]

Yahoo shuts Maven video service

Jul 03, 2009 (Datamonitor via COMTEX) -- Yahoo has announced that is closing its online video service Maven Networks as part of its efforts to shed non-core activities.

The move comes less than a month after chief executive Carol Bartz said the company was interested in acquiring more video technology. Maven, which Yahoo acquired last year for $160m, manages and distributes premium online video content for major media companies including CBS, Gannett, and Pearson PLC's Financial Times.



Maven is the third video service after Y!Live and Jumpcut the company has closed in the past eight months during which time it has also shut 20 other services including social-network site Yahoo 360 and web hosting service GeoCities.

In a statement the company said: "This decision will allow us to focus our resources on the continued improvement of our core video offerings. We continue to evaluate our portfolio of products and services and are increasing investment in some areas while scaling back on others." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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