Yahoo is set to launch Yahoo! Buzz on Feb. 26, a news and headline aggregator based on online buzz, which aims to compete with Digg, Newsvine and the like.

Technology blogs including Valleywag and TechCrunch seem to positively welcome the new player.

Yahoo! Buzz tracks popular search results and attributes a “buzz score” to each headline, effectively determining its ranking. Users have the choice to view the most buzzed headlines of the past four hours, 24 hours, week, month and year.

Categories of content include entertainment, sports, world and video.

Please send us any thoughts.

Source: Valleywag – TechCrunch - Mashable

Update: BusinessWeek published a review of Yahoo!Buzz with more information about who has joined and Yahoo's editorial control over content:

"More than 100 major news sites have agreed to place Yahoo "Buzz Up" buttons next to their articles and other content. The partners include Gannett's (GCI) USA Today, News Corp.'s (NWS) Wall Street Journal, and Time Warner's (TWX) Entertainment Weekly. A click on the button is tallied as a user endorsement and sent to Yahoo's Buzz page. Those with the highest scores are considered for placement on Yahoo's front page. But Yahoo is retaining some editorial control: An internal team will have final say over the stories featured on the main home page. Yahoo says this is to guard against articles deemed lewd, violent, or capable of exposing the company to legal liability," reported BusinessWeek.