According to a report by the Wall Street Journal over the weekend, Yahoo is preparing to launch a new feature called ‘Y Connect’ which would allow online publishers to integrate with Yahoo.

With Y Connect, users could register with and log into media sites simply by clicking on a Yahoo button. Then, users’ activity on the media site can easily be shared with contacts on Yahoo. Content on non-Yahoo sites would be shared via Yahoo Pulse, a hub connected to Yahoo Mail accounts.

According to WSJ.com, the service could also then be used by companies to “better understand the interests of users and figure out which online ads are more likely to be effective”.

There doesn’t seem to be any official word yet from Yahoo on these reports, but the WSJ report says it expects a formal announcement later this year.