News Flash! – Joint Venture of News Outlets . . . ?

Posted on June 16, 2019 in Strategic Alliances

The latest scuttlebutt in the media world is that CBS and CNN may be considering some form of joint venture.  As reported by Tim Arango of the New York Times, CBS may outsource some of its news-gathering operations to CNN.  The advantage to the two companies, as Arango points out:

For CNN, a deal with a broadcast network would mean a new revenue stream without having to add much in costs. For CBS, an arrangement with a cable channel would allow it to cut costs while maintaining the CBS News brand, although in a much trimmed-down fashion. CBS is mired in last place amid the continuing struggles of Ms. Couric, who was given a $15 million a year contract, to attract new viewers.

This is not the first time the two organizations have been in talks (the first time was reportedly in 1998).  Reports of the recent round of discussions have not been confirmed by CBS or CNN.

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