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Two Finance Giants Partner on Web Content
Seeking to improve its standing among business news Web sites, CNBC will announce a new partnership on Wednesday with Yahoo Finance, the largest such Web site in the United States.
The arrangement replaces and broadens a content-sharing relationship between the sites and will include co-productions of online video shows. “CNBC is going to be the premiere content partner for Yahoo Finance,” Mark Hoffman, the chief executive of CNBC, said in a telephone interview.
In effect, CNBC is turning to Yahoo for help in reaching online readers of business news. CNBC is the biggest business news television channel, but it has not been able to replicate that success on the Internet, where many companies have competing sites.
According to the measurement firm comScore, CNBC.com ranked No. 11 among business-finance news and research sites in May, behind brand names like Dow Jones, AOL, MSN, Forbes, Bloomberg and CNN. That month, CNBC.com had 6.5 million unique visitors in the United States while Yahoo Finance, at No. 1, had 37.5 million.
The Yahoo arrangement with CNBC, a unit of Comcast’s NBCUniversal, is similar in some ways to one announced last year with ABC News, a unit of the Walt Disney Company’s Disney/ABC Television Group.
Yahoo will direct some traffic to CNBC’s site, Mr. Hoffman said, but maybe more important, it will expose many of its users to the business channel’s journalism. “It’s going to drive scale for us on the digital side,” he said.
Neither company will pay the other for the partnership, but they will share the advertising revenue gained as a result of it. CNBC will take the lead on selling ads for the new online shows, which will be promoted the old-fashioned way, on CNBC’s television channel.
Yahoo has a number of other content-sharing deals with companies, and those will remain in place. So, too, will CNBC’s other deals, including one between CNBC.com and the Web site of The New York Times that involves the sharing of video and articles.
Each company will continue to employ its own staff and control its own site. And traffic to the sites will continue to be counted separately, a point of distinction from the Yahoo and ABC arrangement.
But starting this week, CNBC’s videos and articles will receive special treatment on Yahoo Finance, on the Yahoo home page and on other parts of the sprawling Web site, taking advantage of the channel’s access and its reputation for financial news.
Mr. Hoffman said the Yahoo Finance arrangement was in no way related to the expiration later this year of a 15-year-old content-sharing deal with Dow Jones, the parent of The Wall Street Journal.
The co-produced Web video shows are an important piece of the expanded partnership, executives at CNBC and Yahoo said. Many clips from CNBC’s television shows already appear on CNBC.com and on its partner sites, but the channel’s deals with cable and satellite distributors limit this kind of repurposing. So, starting in the fall, CNBC and Yahoo will collaborate on new shows for their respective Web sites.
The companies did not specify how much video they would be producing together. But they said the plan was a testament to the hunger for online video from advertisers. “It’s a growing market opportunity,” said Mickie Rosen, a senior vice president of the Yahoo global media group.