TheStreet.com Inks Distribution, Marketing Deal with AOL
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Financial news site TheStreet.com Monday inked a two-year agreement with America Online that expands the content and promotional relationship between the two companies to encompass more of AOL's properties.
TheStreet.com had been providing content and receiving promotion from AOL on its proprietary service since April of 1998, but this agreement expands the relationship between the two and extends the deal to two years.
The deal also calls for content from the upcoming TheStreet.co.uk site to be syndicated to AOL UK.
"AOL's brand awareness, business savvy and online leadership make a perfect fit for us," said Thomas Clarke, CEO of TheStreet.com. "With this deal, we expand our access to one of the world's largest, most influential online audiences -- and their members and visitors gain expanded access to the world's best source of online financial news and commentary."
TheStreet.com has lately made some big shifts in the ranks of its top management, and it's been looking for ways to boost revenues and investor confidence.
The company first brought in Clarke to become COO, but then CEO Kevin English left and Clarke was given the top job. Fred Wilson, of Flatiron Partners, one of TheStreet.com's big investors, took the position of chairman at that time. The paid-subscription site's stock has been languishing around $15 for the last couple of months (its IPO priced at $19).
The company apparently feels a deal with AOL is important as it makes a new push for subscribers and advertisers, given AOL's broad reach.
AOL and CompuServe have more than 21 million members worldwide, and the company's Web brands serve tens of millions of additional users.
TheStreet.com will become an anchor tenant on several departments of AOL's personal finance Channel, including the active trader, investment research and investing forums areas.
TheStreet.com will also receive promotion in CompuServe's personal finance area, and the agreement provides for AOL to feature TheStreet.com headlines on AOL.COM and Netcenter.