Yahoo shapes up online video project. Reality series pilot to be broadcast on the Internet

Terry Semel, the former movie studio chief who now leads Yahoo Inc., is back in show business. His Web portal has filmed a pilot for a reality series called "Wow House" that will be broadcast online within the next few months.

The program, which follows two families as they refurbish their homes with $10,000 in new electronics, is the most concrete example yet of Yahoo’s Hollywood ambitions. It’s just an early step, analysts said, in Yahoo’s ultimate goal: creating television of the future.

Semel is betting that online video’s popularity is about to take off. Internet users would flock to Yahoo to watch shows on their computers or other Internet connected devices, creating a potentially lucrative opportunity to sell advertising.

No longer would show times be dictated by television networks. With online video, Yahoo’s millions of users could stream or download programs whenever they want from a range of channels.

Verne Kopytoff, Chronicle Staff Writer

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