Terry Semel, CEO of Yahoo!, 'is on the verge of creating the 21st century's first media giant. Although not a showman in the style of Steve Jobs, Larry Page, or Sergey Brin, Semel is successful because he knows that an old-media formula is needed to attract consumers and ads. That formula consists of branding and success in the search-related ad market. Wenda Millard has been assigned the task of searching out brand-advertising dollars at Yahoo!, and she is succeeding by engaging and delighting users and building relationships and trust with advertisers. She herself is engaging, reassuring, and persuasive. Having had two decades of success in the magazine business, Millard has a relationship with all FORTUNE 1,000 companies and heads of agencies and has gained their trust. For instance, she was able to convince execs of the value of online ads, including Dave Burwick of Pepsi-Cola North America, who spends about 5% of his almost $20 million budget online. He believes in Yahoo!'s progressive view of where its medium is headed and also Yahoo!'s willingness to experiment. Julie Roehm of Chrysler, who has over $2 billion to spend on advertising, is also entranced with online ads, and in 2004 spent 10% of her budget online, with increases planned over the next few years. Roehm spends most of that online ad money on Yahoo!, which gives her the most information about how the advertising performs and permits her to manipulate the each dollar amount for the optimum effectiveness. Among topics covered are the success of Yahoo! News, old media's worries over the success of online ads, and Semels plans to work with old media and to assure the companies that they will gain, rather than lose, for working with Yahoo!.