Categories: OLD Media Moves

CBS buys web finance site Wallstrip

CBS has bought Wallstrip, an online company whose Web site mixes finance with humor, to add to its daily financial news Web broadcast, according to a Bloomberg story. The terms of the deal were not disclosed.

The story stated, “Wallstrip, which also produces blogs about financial news, will retain a separate identity, CBS said in a statement yesterday. The network will work with the creators of Wallstrip.com to develop Internet programs and information that can be sent to mobile phones and other devices.

“The acquisition will increase the original Internet video offerings produced by CBSâ€™s interactive unit. CBS has agreements with more than 10 companies, including AOL and YouTube, to distribute its shows online. It is also an investor in the video Web site Joost.

“Wallstrip.comâ€™s content is distributed through channels like YouTube, Google Finance and Appleâ€™s iTunes store to a predominantly young male audience. Howard Lindzon, Wallstripâ€™s founder and chief executive, will become a consultant to CBS Interactive.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.