Internet giant wants access to entertainment.
Yahoo! is hoping to expand its relationship with the entertainment industry by moving its new Yahoo! Media Group to offices near Los Angeles. The move will effectively split the Internet giant's operations between the new Santa Monica offices and its existing Silicon Valley headquarters in Sunnyvale, Calif.
The Yahoo! Media Group combines the company's music, movies, sports, videogame and news interests into one unit, led by former ABC television executive Lloyd Braun.
The move south is designed to give the new group easier access to the entertainment industry, which Yahoo! is increasingly targeting as its next growth area. Several employees will be relocated to the new offices from Sunnyvale, New York and the company's existing L.A. digs. Additionally, Yahoo! will reportedly hire L.A.-based media insiders to fill the remainder of the 256,000-square-foot office space.