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Wednesday, April 7, 2010 as of 11:14 AM ET

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Yahoo Kills Reading Tool Led By Departed Executive

Yahoo Inc.

(YHOO) said Friday it has decided to discontinue its Livestand digital news reading application, which had been unveiled to much fanfare following a delay in November.Yahoo said in a post on a company blog that it intends to "consolidate" a number of products this year and will pivot to a "mobile-products-first development model."Among the first decisions made as part of this plan is to discontinue Livestand, which was designed for Apple Inc.'s (AAPL) iPad tablet, Yahoo said."We have learned a lot from Livestand and are actively applying those insights toward the development of future products that are better aligned with Yahoo's holistic mobile strategy," the company said.Livestand's development had been overseen by former Yahoo Chief Product Officer Blake Irving, who officially left the company late last month.Irving's departure was announced by Yahoo shortly after it announced it would lay off about 2,000 employees--a move that significantly affected his department.It too...

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