CBS Corp. expanded its Internet strategy Monday by taking a stake in Women's Consumer Network LLC, a privately-held firm that runs The Women's Consumer Network.
Already dominating the television ratings race with shows like Touched by An Angel and 60 Minutes, CBS is looking to have a stake in women's content online, which is a growing sector of the Internet industry.
Under the agreement, CBS (CBS)
will take a 40 percent stake in WCN. In exchange, the Web operator will receive $50 million in advertising, promotion and other consideration over a period of five years across CBS's media properties, including television, radio and outdoor. CBS will also hold two positions on Women's Consumer Network's board of managers.
WCN provides services including product and service research, as well as discounts on retail items and services.
"Women drive our economy as the primary decision-makers on a wide range of economic activities both
in the home and in the workplace, and the Women's Consumer Network provides topical and relevant
information to help its members make their buying power count," said Mel Karmazin, president and
chief executive of CBS. "This partnership adds both dimension and diversity to our Internet portfolio, and we welcome WCN to our family of new media investments."
CBS currently has investments in a variety of Internet firms, including SportsLine USA, Inc. (SPLN), MarketWatch.com,
Inc. (MKTW), Medscape, Inc., Switchboard Inc. and Jobs.com Inc.