CNN, Internet Broadcasting form news, ad alliance

CNN and TV station Web site publisher Internet Broadcasting have formed a strategic alliance that combines the latter’s local news content with the former's global newsgathering resources.

CNN and Internet Broadcasting will also create an advertising opportunity leveraging's national audience with Internet Broadcasting's local reach. To reinforce the alliance, CNN will acquire an equity stake in Internet Broadcasting, joining Hearst-Argyle Television, Post-Newsweek Stations, McGraw-Hill Broadcasting and Split Rock Partners as investors in the company.

The deal calls for the companies to share local, national and international content important to online news consumers. Leveraging its network of TV station Web sites, Internet Broadcasting will supply local news content to, which will appear on the home page as well as in the "U.S. News" and "Weather" sections. In turn, national, political and international content from will appear on the home page and national news pages of Internet Broadcasting sites.

The new online advertising component of the deal will offer new ad platforms for clients on both a national and local level. Internet Broadcasting will offer select ad placements as part of its nationwide, regional or market-by-market advertising packages.