Yahoo announced this morning that it has entered a strategic alliance with ABC News to combine Yahoo’s massive reach, content breadth and technology with ABC’s brands, anchors and global news-gathering operation.

Here’s what this entails:

• ABC News will become the premier news provider on Yahoo News
• ABC’s GoodMorningAmerica.com launches on Yahoo today at GMA.yahoo.com
• New original web series featuring ABC News anchors. This will start with programs called “Newsmakers,” “Around the World with Christiane Amanpour,” and “This Could Be Big.” Others will follow in the coming months.
• The editorial teams of both media organizations will work together to develop news content.
• The sales teams will also work together on advertising solutions.
• Both will retain editorial control of their own properties.

“Yahoo! is committed to building the richest set of premium and personalized content experiences for our users. Our deep collaboration with ABC News further strengthens Yahoo! as the No. 1 online news source, greatly enhancing our already robust news content,” said Ross Levinsohn, executive vice president of Americas at Yahoo. “ABC News and Ben Sherwood’s vision is completely symbiotic with ours; together we can create highly engaging experiences for more than 100 million users a month that will set the standard for the industry.”

“This relationship will give ABC News an unrivaled ability to reach across the Web, combining Yahoo!’s vast distribution and cutting-edge technology with our award-winning journalism.  For years, we’ve proudly proclaimed that more Americans get their news from ABC News than any other source,” said ABC News President Ben Sherwood.  “Going forward, we will greatly expand this leadership by building a connection with a whole new online audience.”

Clearly Yahoo isn’t letting that lack of a CEO slow them down.