Yahoo collaborating with Access Hollywood for a new omg!

Search engine company Yahoo! is expected to announce their new collaboration with TV gossip show “Access Hollywood”.

The two parties are going to work together to launch a new celebrity-oriented Web portal to be named omg!

Market analysts claim that Yahoo! wants to set up this new portal to challenge the domination of Time Warner’s TMZ.com which has become the hottest celebrity gossip destination on the web.

Incidentally, this would be the first major development of its kind ever since Yahoo appointed former ABC programming chief Lloyd Braun as head of Yahoo Media Group. Yahoo failed to do much on this front and fired Braun in December last year.

Market sources added that Access Hollywood would also be revamping their own website adding social networking features to enhance user experience.