Yahoo! (YHOO) Hires Time Warner (TWX) Executive for Sports, Other

Yahoo Inc (NASDAQ:YHOO) announced they have hired a Time Warner Inc. (NYSE:TWX) executive to head up sports, games and entertainment online properties.

Taking up the new position is Ken Fuchs, who is vice president of digital distribution and emerging platforms at Time Inc. at this time.

Mickie Rosen, Senior Vice President of Yahoo Media Network in the internal memo, that Yahoo is also creating a new editor-in-chief position which will target "programming initiatives" including "content mix" and "social marketing" across Yahoo's various online businesses.

Fuchs will officially join Yahoo on April 5. He has worked in the past as vice president of strategy at News Corp's (NASDAQ:NWSA) Fox Interactive Media's revenue group.

Uncertainty as to the sale of the 35 percent stake they hold in Yahoo Japan appears to have pressured the stock down

Yahoo closed Tuesday at $16.33, down $0.98, or 5.66 percent.