Date: 13th December 2000

YAHOO! To Offer News From ABC

Investors in Internet portal Yahoo!, whose shares had fallen 84 percent before Tuesday, saw them gain back some ground as they rose 5.7 percent to $35.81 on the Nasdaq after the company announced that it reached a deal with ABC to stream excerpts from the network's TV news programs and Good Morning America on its site.

Bloomberg News and CNBC reported that the agreement raised speculation that Walt Disney Co., ABC's owner, could buy Yahoo! or make a substantial investment in the company.

Source: Studio Briefing