"Ross has a phenomenal track record of executing digital media strategies that increase user engagement and, most importantly, accelerate topline growth," said Bartz. "I am confident that Ross's strategic vision, in addition to his deep industry experience, will allow us to solidify our position as the largest digital media, content and communications business around the globe."

Levinsohn has long been on the forefront of digital media innovation. Prior to joining Yahoo!, he was the co-founder and managing director of Fuse Capital, an investment and strategic equity management firm focused on investing in and building digital media and communications companies. Levinsohn previously served as the president of News Corporation's Fox Interactive Media, where he was responsible for running the day-to-day business, designing the overall strategy and leading investments that helped transform the company into a leader in digital media.

Levinsohn also held senior management positions with AltaVista, an early pioneer and leader in search, CBS Sportsline where he oversaw all content and development for the top rated sports site, and HBO where he launched and oversaw a unit developing new programming and revenue streams.

"Yahoo! is one of the premier Internet companies in the world," said Levinsohn. "Having this opportunity to work with a group of immensely talented people to enhance Yahoo!'s leadership position is a once in a lifetime opportunity."