Dr Mumbo

Did a bunch of people just get fired at Yahoo!7?

Sometimes press releases are issued when a company wants to talk about what it’s up to.

And sometimes press releases are issued when a company does not.

Given that this one was accompanied by a message from the PR saying: “There will be no further statements at this time”, Dr Mumbo has a pretty good idea which category this one falls into.

Dr Mumbo’s theory: Yahoo!7 is axing a bunch of jobs.

Read the entire announcement for yourself, and see if you can decide:

Yahoo7 restructures to harness the power of world-leading Oath technology

Today Yahoo7 announces a decision to introduce changes to its operations. Following a strategic review with its shareholders Oath and Seven West Media (SWM), Yahoo7 needs to make changes to its structure that will carry the company into the future. Most significantly, Yahoo7 is planning on making greater use of the Oath technology capabilities.

Yahoo7 will continue to be a market-leading destination for over 9 million Australians across its premium consumer brands like Yahoo7 Be, 7News, Yahoo7 Finance, Mail and 7Sport. The local brands will remain unaffected by this shift in the back-end tech platforms.

Yahoo7’s mission is to be the Australian media leader in data, content and tech and this move will help them maintain that leadership in an increasingly competitive and challenging market.

Yahoo7 will benefit greatly from the significant global investment Oath makes in technology. This change would lead to a planned reduction in locally-produced bespoke platforms, and potentially across the associated teams. Smaller changes are also planned across the rest of the organisation.

Ed Harrison Yahoo7 CEO said “With the creation of Oath last year, we now have a shareholder with a portfolio of dozens of dynamic media and tech brands and a reach of 1 billion users. In a rapidly growing digital media environment, scale is a critical competitive advantage. Through Oath we have a unique opportunity to benefit from enormous scale.

“Yahoo7 will focus resources on local content creation and monetisation. Our editorial team will continue to deliver premium, unique and engaging content in the news, sport and lifestyle verticals. Our sales team will provide clients with access to our audiences via powerful global ad platforms such as Gemini and Brightroll. Of course, making changes is always difficult, especially involving our talented people, but ultimately this will ensure Yahoo7’s continuing success.”

-ENDS-

After Mumbrella sought further clarification, the PR told Mumbrella: “The release and statement are all the information Yahoo7 are providing at present.”

Clear?

Neither is Dr Mumbo.

ADVERTISEMENT

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing