Yahoo Inc said on Tuesday that it supports a program by archrival Google Inc to develop applications for social networks and will help create a joint foundation to keep it alive.
Google launched its OpenSocial network in November to lure developers yahoo already creating popular Web applications on social networks like Facebook.
Yahoo, Google and News Corp-owned MySpace said on Tuesday they will create the OpenSocial Foundation to maintain a neutral, community-governed forum for developing applications. It will be set up as a non-profit entity, with assets to be assigned to the new organization by July 1. [Reuters]