Yahoo has announced a new product called Livestand. It is an app for iPad and Android tablets that puts the company squarely in the middle of the current trend toward multimedia-centered digital news. Livestand will offer “a continuous stream of programming based on users’ interests.”

Following in the footsteps of News Corp.’s The Daily, Yahoo said that ‘Livestand’ will initially be only available as an app for Apple’s iPad and Android-based tablets, but the company said new web and smartphone versions are in the pipeline.

Yahoo said that, at the moment, the tablet apps will focus solely on offering personalised content from Yahoo-owned web properties. The apps are set to offer external media content in the future, the company said.

Described as a novel way for content publishers and advertisers to reach smartphone and tablet users, Livestand currently offers media content from Yahoo websites like Yahoo Sports, Yahoo News, Flickr, OMG and the Yahoo-owned Associated Content.

Users will be able to customise the app based on their preferences, time of the day and location.

The app is set to be released for the iPad and Android tablets later this year.

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