According to news.com, Yahoo has set up stakes in Southern California, forming a media group to house various entertainment properties and to court Hollywood, according to an internal company document.

On Tuesday, Yahoo Chief Operating Officer Dan Rosensweig sent a companywide e-mail announcing the formation of the Yahoo Media Group, which will encompass Yahoo properties including games, news, sports, finance, movies, and music services Launch and Musicmatch. The unit will be run by former ABC television executive Lloyd Braun, who was hired by Yahoo in November.

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