Yahoo! (NASDAQ:YHOO) Targets Phones, Tablets with Digital Newstand

Yahoo! (NASDAQ:YHOO) announced today they're going to offer a "digital newstand" called Livestand, which will deliver content to users of tablets and other mobile devices to choose a variety of content topics they're interest in reading about or viewing, including finance and sports.

On a conference call Thursday, Irv Henderson, a vice president of product management for Yahoo said, "Don't think of this as an app, think of this as a platform."

Even so, it will be offered as an app on Apple's (NASDAQ:AAPL) iPad or tablets run by Google's (NASDAQ:GOOG) Android platform to begin with. Once that's in place and running, Yahoo said they'll eventually offer it on mobile phones and Web browsers.

This is an effort to expand the advertising network of Yahoo, which has been under pressure for some time.

Livestand should be available in June, and will only showcase content from select partners in the beginning. Ultimately, they want to open up the platform to everyone.

Yahoo didn't reveal any specifics as far as revenue-sharing plans or when the content creators outside their base will be empowered to use the resource.

Yahoo was trading at $16.62, up $0.19, or 1.19 percent, as of 2:42 PM EST.