Photo: Business Insider
The leading online finance site, Yahoo, and the leading business TV network, CNBC, have announced a major partnership.The companies will share content and talent and co-produce web shows that will appear on both their web sites. CNBC content will be integrated throughout Yahoo Finance and Yahoo.
The deal is similar to Yahoo’s recent partnership with ABC news, which has juiced the brands and traffic of both companies.
Fortunately for your correspondent, who is a host of Yahoo’s finance show Daily Ticker, Yahoo will continue to produce its two market-related shows, Daily Ticker and Breakout. Thanks to Yahoo’s massive global distribution (and the tireless work of your correspondent’s colleagues), these shows are among the most-watched financial video programs in the world.
Here’s the announcement:
Yahoo! (YHOO) and CNBC are joining forces in an alliance that will provide a broadcast platform for original content from Yahoo! Finance in the U.S. while also expanding CNBC’s Web presence.
Beginning Wednesday, CNBC will be the premier content provider for Yahoo! Finance, dramatically increasing its presence on the site, which attracts an audience of close to 40 million a month. The Yahoo! Finance audience will notice immediate changes to the homepage, where CNBC news articles, video clips and in-depth analysis pieces will be more prominently featured. We begin this journey with content including an in-depth look at the euro crisis ahead of the Greek elections, along with coverage of JP Morgan CEO Jamie Dimon’s testimony on Capitol Hill. CNBC content will also be featured regularly across other Yahoo! properties.
Later this year the companies will co-create a slate of original video programs to appear on both Yahoo! Finance and CNBC.com. CNBC will promote these programs on-air but they will be strictly tailored to appeal to a Web audience, joining other Y! Finance originals such as The Daily Ticker and Breakout. Yahoo! Finance’s talent will also appear on-air as a part of CNBC’s award-winning programming, which reaches nearly 100 million households.
“Our mission is to create the richest and most powerful experiences for users each and every day,” said Ross Levinsohn, interim CEO of Yahoo!, in a statement. “Partnering with CNBC will allow Yahoo! Finance to expand its offerings instantly and enhance its position as the most viewed and utilized finance site in the world.”
“This collaboration is about two leaders in their respective spaces coming together,” said Mark Hoffman, president and CEO of CNBC. “With CNBC taking a central role on the biggest business news site in the world, we now have the ability to provide real-time news, analysis and information to a larger audience and offer unmatched advertising solutions for marketers looking for access across multiple platforms.”
Both CNBC and Yahoo! will retain full editorial control over their respective sites. Yahoo! Finance will continue to feature content from its own staff as well as from its many other high-profile providers and experts. CNBC will also continue to distribute its content to other online publishers.