Buffett picks Yahoo to live-stream his annual meeting

Warren Buffett is giving a boost to embattled Yahoo CEO Marissa Mayer.

Yahoo said Tuesday it will host the first-ever live-stream of Berkshire Hathaway’s annual shareholder meeting in Omaha, where thousands of people flock every year to hear the legendary investor dispense his financial wisdom.

Buffett’s annual meeting draws an estimated 40,000 visitors, but he wants to make it accessible to people who can’t make the spring pilgrimage to Omaha.

“Over the past 50 years, we’ve seen a tremendous increase in the interest around our shareholders meeting. Partnering with Yahoo Finance provides us with the opportunity to reach more people than ever, in key financial centers around the world, from New York to China and beyond,” he said in a statement.

Yahoo Finance will webcast the event starting at 10 a.m. April 30 with a replay available for 30 days. The company said it plans to sell video and display advertising against the live stream, as well as sponsorships.

Shares of Yahoo were up 4.5 percent, at $28.26, shortly after the opening bell on Tuesday.

Fortunately, Yahoo Finance isn’t paying for the streaming privilege. That’s in contrast to the reported $20 million it paid for the rights to live-stream the first NFL game last year.

Mayer said during the company’s fourth-quarter earnings call last month that it will cut roughly 15 percent of its workforce as part of a strategy to revamp its ailing Internet business and appease investors.