The New York Daily News, fifth largest newspaper in the U.S., has joined the Yahoo Newspaper Alliance, which enables Yahoo’s HotJobs to power the publication’s career site. By entering into the coalition, the New York Daily News will allow Yahoo to advertise on the site.
From the article Yahoo’s Newspaper Alliance Adds Major Player:
For newspapers, the Yahoo partnership represents a comprehensive strategy for tackling the Web after years of losing circulation and classified ads to the Internet portals and free listings sites such as Craigslist. But the industry continues to suffer steep declines in readership.
The consortium has been the center of controversy since its inception last year. Many analysts believe that the growth experienced within the program thus far cannot sustain itself over a longer period of time.
But Borrell and other analysts warn that it will be hard for newspapers teaming with Yahoo to sustain high growth rates over time. “They’ve basically relinquished ownership of the help-wanted advertising franchise,” Borrell says. “HotJobs now owns it in those markets because it’s merely using the newspapers to build up the HotJobs brand.”
The New York Daily News is but one of nearly 400 newspapers that have joined the consortium.
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