CNN is now an equity investor in Internet Broadcasting, joining Hearst-Argyle, Post-Newsweek, McGraw-Hill and Split Rock Partners as owners of the nation's largest publisher of television station web sites. The plan is to join Internet Broadcasting's local news content with CNN's national audience to "create a unique advertising opportunity."
As part of the agreement, the companies will share local, national and international content for online news consumers. Leveraging its network of TV station web sites, Internet Broadcasting will supply local news content to CNN.com, which will appear on the home page as well as in the "US News" and "Weather" sections. In turn, national, political and international content from CNN.com will appear on the home page and national news pages of Internet Broadcasting sites.
Internet Broadcasting founder and President Reid Johnson said adding the CNN content will provide "tremendous benefits" for online news consumers and the company's station partners. "Our advertisers also benefit by getting the best of both worlds – national reach and local relevance," he added. Internet Broadcasting will offer select CNN.com ad placements as part of its nationwide, regional or market-by-market advertising packages.