CNN Gets Local News, Advertising
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A lot of business is small and local and, today, CNN and Internet Broadcasting signed a deal to tap into it for advertising dollars. The companies announced an alliance to combine Internet Broadcasting's network of local news content with CNN's global newsgathering resources.
As a part of the deal, 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, according to a statement.
For its part, Internet Broadcasting will supply local news content to CNN.com. That content will appear on the homepage, as well as in the "U.S. News" and "Weather" sections. In turn, national news produced by CNN will appear on local TV station Web sites run by Internet Broadcasting.
As Americans increasingly turn to the Internet for news and entertainment, old media such as broadcasters, newspapers and even cable news are doing everything they can to stay ahead of the curve.
And today's effort isn't CNN's first. Last August, CNN.com opened the CNN Exchange, an online platform for user-generated content, including photos, video and text. Of course, CNN isn't alone in its push to keep up with viewers as they change their habits.
Just today, newspaper and local television conglomerate Media General announced a partnership with online media company VMIX to bring user-generated videos, photos, audio, blogs, ratings, polls, and other community-driven content and features to more than 50 online properties.
VMIX Co-Founder and CEO Greg Kostello told internetnews.com his impression was that old media is working hard to catch up fast. "If anything we're having to work really hard to match their pace."