Yahoo!, the premier digital media company, and CNBC, the world leader in business news, today announced that they forged a strategic alliance that will dramatically expand CNBC’s online reach and presence, provide a broadcast platform for Yahoo! Finance’s original content and contributors, and create jointly produced, co-branded finance-focused video franchises.
Together this relationship will bring an unmatched depth and breadth of content to a combined and unduplicated online audience of 40 million people in the U.S. each month (which is twice as big as the next competitor) and share the original content of Yahoo! Finance with the 100 million households that CNBC reaches in the U.S. plus the countless unmeasured viewers watching out-of-home in the offices of chief executives, on trading floors, in five star hotels, country clubs, fitness centers and fine restaurants.
“Our mission is to create the richest and most powerful experiences for users each and every day. Partnering with CNBC will allow Yahoo! Finance to expand its offerings instantly and enhance its position as the most viewed and utilized Finance site in the world, ” said Ross Levinsohn, Interim CEO of Yahoo!. “Together, we will deliver the most engaging, insightful and relevant premium and personalized real time experiences for viewers across screens.”
“This collaboration is about two leaders in their respective spaces coming together,” said Mark Hoffman, President and CEO of CNBC. “With CNBC taking a central role on the biggest business news site in the world, we now have the ability to provide real-time news, analysis and information to a larger audience and offer unmatched advertising solutions for marketers looking for access across multiple platforms.”
Effective today, CNBC becomes the premier content provider for Yahoo! Finance in the U.S, providing investors with even greater access to its signature in-depth reporting, marquee interviews and real-time financial news and analysis. Later this year, we will also co-create a new slate of co-branded, original videos which will appear on Yahoo! Finance and CNBC.com. Yahoo! Finance’s journalists will contribute to CNBC’s Business Day programming and CNBC clips, news and analysis will be prominently integrated into Yahoo! Finance and featured across the Yahoo! network.
Yahoo! and CNBC will maintain editorial control and host their respective sites. Yahoo! Finance will continue to feature content and perspectives from Yahoo!’s editorial staff as well as reports from other industry-leading providers and experts. CNBC will distribute its content to other leading online publishers in the category.