Yahoo! Inc. announced Monday it will launch a new advertising management platform in phases, beginning with members of its Newspaper Consortium in the third quarter this year, paidContent reported.

AMP! from Yahoo!, will aim to simplify online advertising for advertisers, publishers, agencies and ad networks. The platform was formerly known as Project Apex.

AMP! from Yahoo! was created to provide an “integrated, web-based solution that allows unprecedented ease of cross-selling across a large ecosystem of buyers and sellers. It will allow advertisers to precisely yet easily target audiences while enabling publishers to better monetize their content,” paidContent reported.

Hilary Schneider, EVP of Yahoo's Global Partner Solutions, stated that although online advertising has been growing increasingly sophisticated, the business process behind it is “surprisingly cumbersome and manual.” Publishers will be better to monetize content if they can offer advertisers a way to better reach increasingly fragmented audiences, she said.

“We believe AMP! will deliver a faster, easier, and more automated and integrated way to create, buy, and sell advertising and do so across a transparent global marketplace. And with the time saved, the industry can better focus on developing great creative,” said Schneider, according to paidContent.