CNN and Time Inc. Launch the New CNNMoney.com, Premier Business and Financial Website
January 09, 2006, CNN and Time Inc. announced that their business and financial website CNNMoney.com (www.cnnmoney.com) is officially re-launching today. The site, which builds on the successful partnership of CNN and Money Magazine, will be the new Internet home of all Time Inc.’s business and financial titles: FORTUNE, FORTUNE Small Business, Business 2.0 and Money.
CNNMoney.com’s combined editorial resources--the site’s own dedicated newsroom based at the CNN Center in New York, the newsgathering force of CNN worldwide, CNN branded video, exclusive content from the magazines’ journalists, and archival magazine content--will form the most comprehensive and insightful business and finance destination on the Internet.
“This is the most exciting development for our business titles since we first began using the Web,” said John Huey, Time Inc. Editor-in-Chief. “It’s also the culmination of almost a decade’s effort to get all our business and financial editorial assets working together in one place online. This is going to give us a big competitive advantage because this is truly what the readers out there want.”
“We’re excited to be building upon an already impressive foundation,” continued Vivek Shah, President, Digital Publishing, The FORTUNE/Money Group. “We expect the new CNNMoney.com to completely redefine this market.” According to Nielsen NetRatings, the combined, non-duplicated audience of the sites in November 2005 was 9 million unique visitors. In addition, advertising revenues grew 67% year over year, according to Nielsen AdRelevance.
The launch will be backed by an extensive advertising campaign, targeted at both consumers and advertisers, to run online, in print, and on TV.
“CNNMoney.com merges some of the most trusted and powerful brands in the media landscape,” said Time Inc. Chairman and CEO Ann Moore. “Its launch demonstrates Time Inc.’s commitment to delivering premium branded content beyond the pages of our magazines to whatever platform consumers demand.”
“After we established an online partnership with Money Magazine in October 2001, CNNMoney.com quickly became one of the Internet’s leading business and personal finance sites,” added CNN President Jim Walton. “Today, we’re excited about adding the resources and strengths of the other Time Inc. business and financial titles to further establish CNNMoney.com as the premier online site for breaking business news, personal finance features, commentary and planning tools.”
Along with Shah, the management team of the site consists of Chris Peacock, editor; Greg Schwartz, vice president of sales; and Joelle Andersen, marketing director.
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