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Photo by Cindy Ord/Getty Images for Yahoo

Yahoo Finance is launching a full-day live video streaming network by the end of the year, three sources familiar with the plans tell Axios.

Why it matters: It’s the latest example of a digital-native news outlet getting into streaming news to capture more audience attention on mobile and to compete for television dollars.

The network will include 8-hours of live market and global financial news updates, which would make it a rival to the new digital streaming business network Cheddar and to an extent, CNBC, Fox Business and Bloomberg.

  • Sources say the company is in active discussion with OTT providers and bundles about getting the content on platforms other than its O&O channels.

Beginning in August, Yahoo Finance will begin to increase its roughly 1.5 hours - 2.5 hours of live programming a day to reach 8-hours of live, bell-to-bell coverage by the end of the year. 

  • The coverage will include Yahoo's Finance's three daily live shows – Market Movers, Midday Movers and The Final Round — as well as other content it's been testing on social media, such as Morning Meeting, its morning show that airs on Facebook.

Sources say Oath CEO Tim Armstrong and Joanna Lambert, GM of Finance & Tech, are the driving forces behind the expansion, which has been in the works for a long time. Andy Serwer, Editor in Chief of Yahoo Finance, will continue to oversee editorial direction and content.

"As a digitally native platform, innovation is in our DNA. Our unique video capabilities, combined with unrivaled access to financial data, editorial content and investing tools, truly differentiate Yahoo Finance from anyone else in the industry. We’re continuing to push the boundaries by pioneering new formats that will reach audiences across all platforms and channels.”
— Joanna Lambert, General Manager of Finance & Tech at Oath

The company is already staffing up big for the push, according to one source, and is going after editors, producers, and on-air reporters across the industry. Yahoo Finance has already begun posting jobs for on-air reporters to “to communicate ON AIR to a broad consumer audience.”

There is a possibility that the content could eventually be accessed through a linear distribution deal with Verizon Fios, a fiber-optic cable operated television, internet and phone service that has roughly 5 million customers in the U.S.

  • Market Movers is already available on FiOS1.

The move is not totally surprising given Yahoo's existing investment in live digital programming, but a Fios partnership would be notable, given Verizon CEO Lowell C. McAdam’s continual rejection of rumors about Verizon moving into linear TV programming.

“We made our bet several years ago before we bought AOL and Yahoo and combined them together to do Oath that we weren’t going to be investing in the linear TV model ... I’ve said this a couple of times, I think the linear model is dead, it’s just going to take a long time to die.”
— McAdams at a conference in March

Go deeper

Collins helps contractor before pro-Susan PAC gets donation

Sen. Susan Collins during her reelection campaign. Photo: Scott Eisen/Getty Images

A PAC backing Sen. Susan Collins in her high-stakes reelection campaign received $150,000 from an entity linked to the wife of a defense contractor whose firm Collins helped land a federal contract, new public records show.

Why it matters: The executive, Martin Kao of Honolulu, leaned heavily on his political connections to boost his business, federal prosecutors say in an ongoing criminal case against him. The donation linked to Kao was veiled until last week.

How cutting GOP corporate cash could backfire

Illustration: Aïda Amer/Axios

Companies pulling back on political donations, particularly to members of Congress who voted against certifying President Biden's election win, could inadvertently push Republicans to embrace their party's rightward fringe.

Why it matters: Scores of corporate PACs have paused, scaled back or entirely abandoned their political giving programs. While designed to distance those companies from events that coincided with this month's deadly siege on the U.S. Capitol, research suggests the moves could actually empower the far-right.

8 hours ago - Politics & Policy

Scoop: Kaine, Collins pitch Senate colleagues on censuring Trump

Sen. Tim Kaine speaks with Sen. Susan Collins. Photo: Andrew Harnik/AP via Getty Images

Sens. Tim Kaine and Susan Collins are privately pitching their colleagues on a bipartisan resolution censuring former President Trump, three sources familiar with the discussions tell Axios.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction in his second impeachment.

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