Chrysler to Sponsor Time's "Person of the Year"

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CNN's ad sales department renewed what the network has labeled a "multi-million dollar" deal with Chrysler to make the auto company the sole sponsor for the network's coverage of Time Magazine's "Person of the Year" issue.

The deal, first brokered in 2005, was the news network's first comprehensive, integrated partnership; this year's renewal extends to on-air, online, wireless, podcasting, broadband and interactive TV. Chrysler is also exclusively sponsoring the "Person of the Year" coverage in Time magazine and on Time.com.

Turner Broadcasting's CNN is owned by Time Magazine's parent company Time Warner.

Time's "Person of the Year" issue debuts Dec. 18 and CNN will run an hour-long documentary on the package Dec. 16.

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