Yahoo! Looks to Revamp Video Site

SUNNYVALE, August 3: Yahoo! aims to revamp its video
strategy by year-end in order to better compete against YouTube, according to
published reports, with plans to ramp up TV, movie and music content available
on the site.

Mike Folgner, Yahoo's general manager for video, told
Bloomberg News: “One of our strategies is to put video everywhere you are on
the Internet. We're going to build a much better destination for you to access
all this different content.''

YouTube currently dominates the online video market,
followed by News Corporation’s MySpace, with Yahoo! in third place with a
reported 4.6 percent share.