The big Internet companies were expected to be portals-single web pages that helped you find media, shopping opportunities and weather forecasts while offering services like E-mail.

Reports say the reorganization signals the company's strategic priorities at a time when mobile gadgets and social media services redefine the way people use the Internet.

We are witnessing a convergence of media, Internet and mobile services that is changing the very foundations of our business, but is also creating new revenue opportunities.