Internet search engine Yahoo is to form a digital advisory council in an attempt to keep abreast of the changes in digital media and online advertising.

The council will be made up of Yahoo and industry executives as well as the company's advertising partners.

Yahoo said that the move was part of its continued shift towards a policy of openness across all online media.

Hilary Schneider, executive vice-president of Yahoo US, said: "Opening up Yahoo is a key part of our strategy, and we want to help advertisers understand how they can benefit from this approach."

The council would attempt to identify ways of improving advertiser performance ahead of the release of Yahoo's new advertising management platform, she added.

It will meet for the first time in the fourth quarter of the year.

A search advertising partnership deal between Yahoo and Google is currently being investigated by anti-trust regulators to see if it restricts competition.

Microsoft failed in a $40 billion takeover attempt for Yahoo earlier this year.