CBS, Yahoo! in news video syndie deal

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NEW YORK -- CBS Television Stations, a division of CBS Corp., and Yahoo! Inc. announced an exclusive syndication agreement Monday in which local news video from 16 CBS-owned television stations will be made available on the Web portal starting Tuesday.

This marks the first video agreement between a station group and an Internet news site. CBS and Yahoo! will share advertising revenue created from the news clips on the site.

"Finding new platforms to distribute and monetize our industry-leading content has always been a core strategic initiative of our company," said Jonathan Leess, president, CBS Television Stations Media Group. "This deal accomplishes both."

The New York, Los Angeles, Chicago and San Francisco markets are included in the deal, and users will have access to 10-20 video clips per day including breaking news stories. Yahoo! will highlight the video clips to users who select a city or ZIP code within a local CBS market.

"One of our key priorities is to offer our users relevant and high-quality local news in each market," said Scott Moore, head of news and information, Yahoo! Media Group. "And with CBS, we've found a partner that deeply understands the issues most important to the communities they cover."
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