Nearly a year after AOL began revamping its Money & Finance channel, the site’s video content is about to get its biggest makeover to date, courtesy of CNBC, the Time Warner unit told paidContent. While the NBC Universal (NYSE: GE) cable business channel remains dominant on TV, CNBC was fairly slow to make its website as credible a threat to other financial sites.

While the company has been attempting to remedy the site’s ad situation in December by handing over most of the display and contextual ad serving duties to Microsoft (NSDQ: MSFT), the deal with Microsoft had nothing to do with getting CNBC’s content out to other sites.

CNBC’s new deal with AOL has both. In addition to CNBC providing content for AOL’s Money & Finance videos, AOL is boasting that advertisers will be able to reach CNBC TV, CNBC.com and AOL as part of a single campaign. However, that doesn’t mean that Microsoft is being cut out, because CNBC will be handling the ad sales, not AOL (NYSE: TWX). For those who remember, CNBC’s previous web effort was with MSN Money, a rival to AOL Money, but that deal went awayat the end of 2006.

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• AOL Starts Remake Of Money & Finance Site