Yahoo7 has announced it will introduce changes to its operations following a strategic review with its shareholders Seven West Media and Oath.
The company said in a statement that it is planning on making greater use of Oath’s technology capabilities to maintain its position in an “increasingly competitive and challenging market”.
Yahoo7 said the 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.
However, local brands such as Be, 7News, Yahoo7 Finance, Mail, and 7Sport will remain unaffected by this shift in the back-end tech platforms.
Yahoo7 CEO Ed Harrison 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 one 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.”
The announcement coincides with the departure of Yahoo7’s national sales director, Paul Bates, who has joined REA Group.
