The CNN News Group and IT media and information services company IDG signed a marketing and cross-promotion alliance valued at $50 million that includes CNN taking a minority stake in a new, unspecified IDG online company.
The new alliance evolved out of a successful year-old content exchange between CNN Interactive and IDG.net, the companies said.
IDG committed to a three-year advertising agreement including the CNN Web sites and television networks and will launch a marketing campaign that will make IDG one of the top advertisers at the CNN News Group. CNN said it will launch a 30-minute weekly consumer technology television program, set to air this fall on CNN/U.S. and CNN International, featuring IDG-branded program segments.
CNN Interactive and IDG.net will continue to exchange online content for domestic and international use as well as introduce IDG stories into CNN.com/Tech’s personal technology section. IDG will receive on-air and online promotion and co-branding around its association with CNN.com‘s computing section. In turn, CNN will receive promotion in IDG print magazines and on IDG.net.
“Developments in technology have an ever increasing impact on CNN’s audience, and this relationship with IDG allows us to create the most compelling and meaningful technology news content. With CNN available to 800 million people in 212 countries around the world and with IDG publishing more than 500 media products in 75 countries, this is a partnership of two truly global companies,” said Tom Johnson, chairman, president and chief executive officer of CNN News Group.
“Our companies are uniquely well-matched in their global reach, commitment to editorial excellence, and high quality audiences,” said Kelly Conlin, president and chief executive officer of Boston-based IDG.
Larry Goodman, president of CNN news sales and marketing at Turner Broadcasting Sales Inc. said that the companies will be developing new opportunities for advertisers.