Yahoo Acquires Associated Content to Bolster Local News
In a bid to better connect with users, Yahoo has today bought the user-generated news site Associated Content.
Yahoo has stated it hopes this new acquisition will generate "avenues for advertisers to engage with consumers".
The deal means that Yahoo will be able to bolster its traditional news content with the independently produced material from Associated Content's 380,000 existing contributors.
Associated Content says it offers stories on over 60,000 topics, from product reviews to local news.
The founder of the company Luke Beatty stated: "Combining our crowd sourced content with Yahoo's distribution, world class editorial team and online marketing leadership will accelerate our growth".
The site, which calls itself "The people's media company", has proved to be popular achieving 16 million unique users per month.
Yahoo in contrast has struggled in the last few months and has lost a great deal of revenue to rivals Google and Facebook.
However with the local news and information from the new Associated Content acquisition, Yahoo hopes to turn its fortunes around.
Although the financial details of the deal are not yet public knowledge, media experts project that Associated Content was purchased by the internet giant Yahoo for around £70 million.
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