CBS Corp.'s Web strategy has once again taken a different course, with plans
to syndicate its entertainment, news and sports videos to as much of the Web
as possible instead of compiling this content on one location. As a step
toward that initiative, CBS Interactive acquired
Wall Strip,
an online video show that takes a humorous look at the financial world, for an
estimated $5 million, according to Web site Jossip. NewTeeVee.com says the
price of the deal was "in the single-digit millions." Wall Strip reportedly
does not have any revenue but was funded by Fred Wilson of Union Square
Ventures. Lindsay Campbell and producers Adam Elend and Jeff Marks will become
full-time employees of CBS, and Howard Lindzon, who is the creator of the
video show, will remain in a consulting role. The acquisition seems like a small
risk for the New York-based media company. CBS appears to be trying different
formulas for the Web until one works. With the rising interest in original
online content, the microdeal would seem to make sense, but time will only
tell. —Gerald Magpily
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story from CNN
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story from NewTeevee.com
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