Yahoo! not interested in producing TV shows or movies

With more and more internet companies entering the video market, it becomes obvious that the big ones would soon start producing their own shows and movies. However, Yahoo! has no desire to do so as Internet portal’s chief executive Terry Semel denied any such plans for the company.

Semel said that the networks already do a good job supplying such content and there is no need for them to enter this segment.

He said in a statement: “We don’t have the ambition to do a lot. We have the ambition to help lead the way and encourage others to do it for us. … We don’t aspire to have 2,000 creative people working for Yahoo. We are an Internet company.”

The company already has the former ABC primetime program chief Lloyd Braun running their media group and are increasing their involvement on licensing news, sports, movies and other content from other outlets.

Semel added: “Television does a very good job. This medium better look like something new. This medium better take advantage of its assets, take advantage of what it does well. … If what we do looks like television, then we’re making a huge mistake.”

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