P&G, Conde casting Web deal

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Procter & Gamble Co. is close to a deal with Conde Nast Publications that will cast the glossy publisher in the role of online content provider to the marketing powerhouse.

P&G is also believed to be in talks with other World Wide Web sites and online services companies about similar deals to invest in content production.

"We have an interesting deal with CondeNet and P&G," said Conde Nast President-CEO Steve Florio. "It involves a whole program of creating content on the Web. We're becoming content providers for P&G products."

The new-media strategy tears a page from P&G's corporate history. The marketer took a similarly experimental approach to TV in that medium's early days through its production of soap operas and other programming.

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