Douglas McIntyre of 24/7WallSt.com writes about why CNNMoney.com’s success is tied to its partnerships.
“CNNMoney may end up being the best model for future success in the financial website industry. CNBC and Yahoo! already have begun to move toward that set-up. News service sites that have their own huge staffs — Reuters and Bloomberg (which did buy BusinessWeek for almost nothing) — may never to do this. Their trading terminal bases financially support their news organizations.
“Still left without partners are Forbes, which has traditionally competed with Fortune, TheStreet and IBTimes. None of these three is based on the alliances that other business sites have forged over recent years that create more efficiency in news gathering, infrastructure and sales.
“The online finance website business is crowded enough as it is. Independence has become a disadvantage. A look at the benefits of the CNNMoney, Fortune and Money alliance is a proof of that.”
Read more here.
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