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GE's Universal had a website called Telemundo, a Spanish-language website aimed at South American audiences. Yahoo! had Yahoo! en espanol.
Together they have now built a co-branded portal called Yahoo! Telemundo that will use the resources of both. Staff will be merged and revenue shared. Online technologies from Yahoo! will partner with original media content provided by Universal, an interesting manifestation of Yahoo!'s chief Terry Semel's statement that "content is not king."
By doing this Yahoo! keeps its focus on technologies and lets Universal serve up the content. It is a cozy arrangement that serves the strengths of both, though an odd working arrangement that leads one to think that both parent corporations are trying to save by consolidation and that the Spanish-language market isn't as hot as they originally thought.
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