We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
AT&T Inc | NYSE:T | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.01 | -0.06% | 16.81 | 16.92 | 16.73 | 16.81 | 23,989,537 | 00:53:19 |
By Shalini Ramachandran and Douglas MacMillan
AT&T Inc. is unwinding a 15-year partnership with Yahoo Inc. that has spanned the evolution of the Internet, from competing against AOL dial-up service to jockeying against cable companies to selling high-speed broadband.
AT&T said Wednesday that it has awarded the contract to host its Web and mobile portals to Synacor Inc., a company little-known outside of telecom circles. The deal effectively moves a major chunk of AT&T's business away from Yahoo.
"We have agreed to have Synacor manage our next-generation att.net portal, AT&T-branded applications, and search," AT&T said in a statement. Yahoo will continue to host email for AT&T customers, though a person familiar with the deal said that is a fraction of its prior business with the telecom giant.
A Yahoo spokeswoman said AT&T is still a "valued partner" but declined to comment further.
The revenue-sharing alliance between a telecom giant and an Internet pioneer had lost much of its cachet over the years amid a shifting Web landscape. But the partnership's demise is ill-timed for Yahoo, which is in talks to sell itself to bidders including AT&T's fiercest rival, Verizon Communications Inc.
Sameet Sinha, an analyst at B. Riley & Co., estimates the AT&T partnership generated about $100 million in annual revenue for Yahoo.
The deal had given AT&T broadband customers access to Yahoo's search engine and other media services on the default AT&T website. AT&T and Yahoo had been splitting the search and display ad revenue from the site.
For Yahoo, the partnership brought in hundreds of millions of dollars in revenue over its life, a significant portion of which went straight to the bottom line. That is because the arrangement required minimal resources from Yahoo, leading to strong profit margins.
--Thomas Gryta contributed to this article.
Write to Shalini Ramachandran at shalini.ramachandran@wsj.com and Douglas MacMillan at douglas.macmillan@wsj.com
(END) Dow Jones Newswires
May 04, 2016 17:24 ET (21:24 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year AT&T Chart |
1 Month AT&T Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions