NEW YORK (AdAge.com) -- Time Warner units CNN and Time Inc. yesterday said they will merge their four business news Web sites into a single site with combined content and bigger audiences to lure advertisers.
The four sites, which will combine next January into CNNMoney.com, are Fortune.com, which is Fortune magazine’s site; FSB.com, the site of Fortune Small Business; Business2.com, the site for Business 2.0; and CNNMoney.com, a joint venture between CNN and Money magazine.
“It comes down to the Web business audience,” said Vivek Shah, general manager of the Fortune/Money Group at Time Inc., who will oversee the business operations of the combined Web site. “It doesn’t want to jump around to four different sites.” The decision also attempts to answer advertiser demand for big audiences, he said.
The merger, however, will not immediately move CNNMoney.com much higher up the ranks of business news sites. CNN and Time Inc. said the four sites being combined had a total, non-duplicated audience of 9.2 million unique visitors in July, citing Nielsen/NetRatings.
Yahoo Finance: 12.2 million uniques
In August, the most recent month for which traffic statistics are available, the top site for financial news and information was Yahoo Finance, with 12.2 million unique visitors, according to Nielsen/NetRatings. MSN Money was second with 12 million visitors, Dow Jones Online was third with 8.5 million visitors and CNNMoney was fourth with 8.1 million visitors.
The magazine Web sites being subsumed by CNNMoney.com will lose their individual platforms on the Web, but Mr. Shah said the new site will prominently represent the magazines’ brands. “That is obviously something we’re going to spend the next few months thinking about,” he said.
The combination will lead to “a couple” layoffs, but staffing will grow overall by about 20 positions, or 50%, Mr. Shah said.
CORRECTION: An earlier version of this story incorrectly reported that Yahoo Finance had 48.4 million unique visitors. In fact, the Yahoo channel has 12.2 million unique visitors, according to Nielsen/NetRatings.