CNN, IDG in $50 mil deal

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Time Warner's CNN News Group, Atlanta, struck a $50 million marketing and strategic alliance with tech media giant International Data Group, Boston, in which CNN will take a minority ownership stake in a new IDG online company. CNN and IDG will cooperate on a 30-minute weekly TV show about consumer technology that launches this fall, giving IDG and CNN a new vehicle to compete with Ziff-Davis' ZDTV and CNET's TV programming. As part of the deal, IDG committed to a three-year ad agreement that includes CNN Web sites and TV networks. The alliance expands on a year-old agreement to exchange content between CNN Interactive and CNN will promote IDG on air and on the Web; IDG will promote CNN in magazines and on the Web.

Copyright May 1999, Crain Communications Inc.

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