It’s Official: CBS Interactive Acquires Wallstrip
By Staci D. Kramer - Tue 22 May 2007 07:03 AM PST
Not on anyone’s blockbuster list but CBS Interactive made official today its acquisition of fledgling financial news site and daily web show Wallstrip. No terms disclosed. The newest member of CBSI’s portfolio will maintain a separate identity but its small team will work with the company on “original web and e-based content and community.” Wallstrip’s syndicated model also should fit in well with CBSI’s online distribution plans. Wallstrip creator and founder Howard Lindzon becomes an “active consultant” while writers/producers Adam Elend and Jeff Marks will executive produce original video content for the division and Lindsay Campbell continues as the program’s host.
Amusing sidenote: More than a week after the first reports—and our confirmation—of the deal, the companies made a point of saying high in the release: “The acquisition was first referenced in Wallstrip’s program this morning.”
Posted in: Companies, CBS, CBS Interactive, Money, Social Media, Community, Video Sharing, VC+M&A
