Yahoo wants to transform the advertising process by introducing AMP – a brand new advertising management platform said to simplify the process of buying and selling ads online. The company made the announcement this Monday, saying its AMP is designed to provide an integrated, web-based solution that allows unprecedented ease of cross-selling across a large ecosystem of buyers and sellers.

Hilary Schneider, EVP, Global Partners Solutions from Yahoo said: “While online advertising grows more sophisticated, the process of doing business today is surprisingly cumbersome and manual. AMP from Yahoo will enable advertisers and publishers to connect with each other and their exact target audiences across the increasingly fragmented Internet, in a way that’s not possible with current solutions.”

With the help of an integrated surface, the AMP technology platform will buy across search, display, local, mobile, and video inventory, having the ability to deliver relevant advertising to Web consumers, and at the same time, giving marketers better results.

“We are highly enthusiastic about the potential of this platform,” said Jay smith, President of Cox Newspapers in a statement. “We’re blown away by how Yahoo is working with intensity and commitment to create a collaborative and very efficient platform that we expect will have a significant impact on our sales capabilities.”

The new platform will provide tools for geographic, demographic and interest-based targeting over 600 newspapers in the Newspaper Consortium and Yahoo’s own inventory, and according to a company release, it has received positive feedback so far.

AMP was used to be known as Project Apex and is expected to be out in the third quarter of 2008 starting with members of the Newspaper Consortium, the company said on Monday, but it will continue to extend after that to other advertisers, publishers and networks, a process that is said to extend through 2008 and the beginning of 2009.