Currently in beta, Yahoo! Buzz measures consumer votes and search patterns to identify interesting and timely stories and videos from large news sources as well as niche blogs around the Web. Top stories are then given primary editorial consideration for feature placement on Yahoo.com.
People, like Muhammad Saleem, consider this a great step for Yahoo for a variety of reasons. It's social search at its finest but only considers contributions from sites that are part of the Yahoo Publisher Network.
Will this be the next social news site? Many people think that Digg is the forerunner (but personally, I'm open to new social sites).
Digg is entrenched it would be very difficult for a new entrant to enter the market without showing that it is more capable and had more features than the incumbent.
Therefore, Yahoo Buzz should have some serious potential, and the timing is good.