It's a brand-new Yahoo!, as the search-engine giant launched a redesigned home page Tuesday, with the most prominent change being the integration of third-party applications and sites, chosen by users.

According to The New York Times' Bits Blog, when users hover one of the third-party application in their My Favorites sections, a preview of that application or site pops up.

Yahoo! senior vice president Tapan Bhat told Bits Blog, "The thing that has been missing is context, and brand advertisers want to buy context. The contextual advertising in the My Favorites area starts giving us the chance to do that."

The relaunched Yahoo! home page also includes more personalized news and status updates from social-networking platforms including Facebook and MySpace.

Bhat told Bits Blog the overhaul represents "the most fundamental change to the home page in Yahoo!'s history."

The new Yahoo! home page will roll out in France, Britain and India later in the week, Bits Blog reported.