CNBC and Yahoo! Finance announced a deal Wednesday in which the business news cable network will become the top content source for Yahoo's financial news arm. Conversely, CNBC will be providing a broadcast platform for Yahoo!
(Reuters) - Yahoo Inc and CNBC have formed a content sharing partnership, the companies said on Wednesday. As part of the deal, CNBC will provide stories and videos that will be featured on Yahoo Finance pages. Yahoo and CNBC will co-create original videos that will appear on Yahoo, CNBC.com and mobile devices and will be promoted on the cable channel. "This partnership is a key step forward in Yahoo's strategy to become a premium media network," said Robertson Barrett, vice president of news and finance at Yahoo. ...
JD Lasica via flickrYahoo will not move forward with its plans to spin off its stake in Chinese ecommerce giant Alibaba and will instead try to sell its core internet business, according to CNBC.
The news sent Yahoo shares up as much as 2.6% in after hours trading on Tuesday.