CBS Takes Stake In Baby Boomer Company
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The agreement gives CBS warrants for an additional 5 percent of the company. CBS Corp. will also take positions ThirdAge Media's board of directors.
ThirdAge Media, Inc. will receive the payment in marketing from all of CBS's media properties over a term of seven years.
ThirdAge Media targets its Internet content and services to the Baby Boomer generation, a major component of the CBS Network's demographics.
CBS has taken various stakes in SportsLine USA Inc., MarketWatch.com, Inc., StoreRunner Inc. and Office.com Inc. The company also has promotion-for-equity exchanges in the works with hollywood.com and Switchboard Inc.