Yahoo, CNBC Agree on Finance News Pact for Internet, TV

Yahoo! Inc., the largest U.S. Web portal, and CNBC said they reached an agreement to offer finance news to television subscribers and Internet users as the companies aim to increase advertising sales.

CNBC will offer its content to Sunnyvale, California-based Yahoo’s websites, and the two companies will work together on video production, according to a joint statement distributed by PR Newswire today. The alliance will offer “advertising solutions for marketers looking for access across multiple platforms,” they said.

The agreement will allow CNBC and Yahoo to offer news content to more than 40 million online users in the U.S., the companies said. Television content from the Englewood Cliffs, New Jersey-based CNBC is distributed to almost 100 million households in the U.S., according to the statement.

Bloomberg LP, parent of Bloomberg News, is a competitor to CNBC and Yahoo! Finance in providing financial news and information.

CNBC is part of NBC Universal, a venture 51 percent owned by Comcast Corp. (CMCSA) with the remaining 49 percent held by General Electric Co. (GE)

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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