Today New Zealand Telecom announced that they have joined forces with Yahoo! and Australia’s Seven Network to grow out their internet portal Xtra. This joint venture is being done to grow the amount of online content that they provide to New Zealand’s web surfers.
The Yahoo Xtra joint venture will provide New Zealanders with access to the world’s best online services in a localized way,” Telecom Chief Executive Theresa Gattung said in a statement.
Telecom is currently aggregating content from MSN through an agreement with Microsoft that ends this year. XtraMSN will be phased out to make room for Yahoo!Xtra around the beginning of March 2007.
Users of the new Yahoo!Xtra can look forward to enhanced range of news, sport, weather and messaging services. Telecom’s Xtra customers will also have access to a range of e-mail, enhanced spam and virus protection services, online photo sharing, localized news and Internet radio.
This strategic move is being done to boost online revenues for Telecom.
Financial details of the deal weren’t disclosed. Telecom will have a 49% stake in the venture and Yahoo! and Seven Network hold the remaining 51%.