Yahoo Shuts Down Online Video Portal Yahoo Screen

(RTTNews) - Internet giant Yahoo! Inc. (YHOO) has shut down its online video portal Yahoo Screen, just two years after it was launched.

Yahoo Screen, launched by Yahoo in September 2013, that merged original and syndicated programming from the company's media partners under one roof. Yahoo Screen also secured a deal to rerun clips of "Saturday Night Live".

In June 2014, Yahoo said it had picked up former NBC sitcom "Community" for its sixth season, which premiered via Yahoo Screen. Yahoo now plans to move the video properties from Yahoo Screen to the company's digital magazines.

Yahoo announced a $41.7 million impairment charge in the third quarter of 2015 on the value of its video assets, due to poor performance of its three video series.

Yahoo CEO Marissa Mayer is striving hard to turnaround the company. However, she still faces numerous challengers in order to bring the company back to a higher growth trajectory. Mayer has made acquisitions like fashion site Polyvore and blogging site Tumblr.

Yahoo's forays into mobile software, online video and search have cost the company hundreds of millions of dollars, but yielded no meaningful growth in total users or revenue. In recent months, a crisis of morale has gripped Yahoo, as dozens of executives who had been instrumental to Mayer's turnaround plan have left for jobs elsewhere.