CNN Gets Local News, Advertising

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 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, 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
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.”

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