Yahoo! Inc. has announced it has extended its video content agreement with ABC News as the premier provider of video content for Yahoo News.

Video is free to Yahoo users and ad-supported. Participating advertisers include large companies and brands such as SAP and Crown Royal.

"Yahoo News' relationship with ABC News has played an important role in offering our users the world's best journalism over the past year. Video streams on Yahoo News have increased more than 10-fold over the past year, so we have no doubt that additional content from one of the most recognized brands in news will be met with great enthusiasm by our audience," says Scott Moore, head of news and information, Yahoo Media Group.

Earlier this week Yahoo announced that its new search marketing platform, which is known by its code name Panama, is now open for new online sign-up.

Last week Yahoo also announced a restructure in the company and a few executive shuffles.