CNN has entered into a strategic news and advertising relationship with Internet Broadcasting, the nations largest publisher of local news online. As part of the agreement, Internet Broadcasting will provide CNN.com with local news content that will appear on the CNN home page and under the “U.S. News” and “Weather” sub-sections. Additionally, CNN will provide national and international content for Internet Broadcasting websites.
“CNN’s global reporting attracts millions of online consumers to CNN.com for domestic and international news every day,” said Jim Walton, president of CNN Worldwide. “Partnering with Internet Broadcasting adds another dimension – enhanced coverage of local news and events – and brings CNN reporting to significantly more people online.”
The two companies are also forming a new advertising structure, with Internet Broadcasting being able to select CNN.com ad placements for use on its own pages.
As part of the deal, CNN has agreed to acquire an equity stake in Internet Broadcasting, joining Hearst-Argyle Television, Post-Newsweek Stations, McGraw Hill Broadcasting and Split Rock Partners as investors in the company.