CNN, IBS ink content deal for online

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NEW YORK -- Turner Broadcasting's CNN and local television news publisher Internet Broadcasting Systems Inc. have entered into a partnership, the companies said Tuesday.

Internet Broadcasting will supply local news content to the homepage of CNN.com and its U.S. News and Weather sections. The Time Warner unit will in turn share national, political and international content from its portal to Internet Broadcasting's network of sites.

CNN will acquire an equity stake in Internet Broadcasting as part of the deal, joining Hearst-Argyle Television, Post-Newsweek Stations, McGraw-Hill Broadcasting and Split Rock Partners as investors.

"Partnering with Internet Broadcasting adds another dimension -- enhanced coverage of local news and events," CNN Worldwide president Jim Walton said. "It brings CNN to significantly more people online."

Added Internet Broadcasting founder and president Reid Johnson: "Our partnership with CNN provides tremendous benefits for our online news consumers, station partners and advertisers. Our advertisers also benefit by getting the best of both worlds -- national reach and local relevance."

Internet Broadcasting publishes television station Web sites for Hearst-Argyle Television, McGraw-Hill Broadcasting, NBC, Cox Television and other companies. According to Nielsen//NetRatings, it is one of the nation's top 50 Web properties.

Nielsen//NetRatings is owned by the Nielsen Co., parent company of The Hollywood Reporter
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