CNN and Internet Broadcasting, the nation's largest publisher of TV station Web sites, have entered a strategic alliance that combines Internet Broadcasting's network of local news content with CNN's global newsgathering resources, it was announced today by Jim Walton, president of CNN Worldwide.
As part of the relationship, CNN and Internet Broadcasting will also create a unique advertising opportunity that leverages CNN.com's national audience with Internet Broadcasting's local reach. To reinforce the strategic alliance, CNN will 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.
"CNN's global reporting attracts millions of online consumers to CNN.com for domestic and international news every day," Walton said. "Partnering with Internet Broadcasting adds another dimension - enhanced coverage of local news and events - and brings CNN reporting to significantly more people online."
As part of their agreement, the companies will share local, national and international content important to online news consumers. Leveraging its network of TV station Web sites, Internet Broadcasting will supply local news content to CNN.com, which will appear on the home page as well as in the "U.S. News" and "Weather" sections. In turn, national, political and international content from CNN.com will appear on the home page and national news pages of Internet Broadcasting sites.
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