CNET joins NBCU-News Corp joint venture

Cory Bergman May 8th, 2007

CNET properties will both distribute and host clips as part of NBC Universal and New Corp’s upcoming video joint venture. Details in the press release…

NEW YORK AND SAN FRANCISCO, May 8, 2007 - News Corporation and NBC Universal today announced a comprehensive, multi-year content and distribution agreement with CNET Networks for their premium online video joint venture. CNET Networks, which owns popular web properties such as TV.com, GameSpot and CNET.com, will provide thousands of clips to the new destination on a non-exclusive basis. In addition, CNET Networks has also agreed to distribute the new site’s library of licensed content, adding its 129 million unique monthly users to the reach of the News Corporation, NBC Universal venture. (Source: comScore Media Metrix, March 2007)

“A pioneering online media company, CNET Networks has long understood the value of creating richer, more authentic experiences online,” said George Kliavkoff, Chief Digital Officer, NBC Universal and interim CEO of the joint venture. “We are delighted that they will be joining us as both a content provider and distributor, ensuring that we continue to add to the depth and breadth of premium video available on our site and on our video network. In addition, we further extend the reach of our protected content to their highly engaged user base.”

“CNET Networks is proud to be the first online-focused content company to offer its original video to this new venture,” said Neil Ashe, CEO of CNET Networks. “We are excited to bring video from NBC Universal, Fox, and other high-quality content providers to our users. This relationship further demonstrates our commitment to creating an engaging online experience at our market-leading brands.”

Launching later this summer, News Corporation and NBC Universal’s video site will feature thousands of hours of full-length TV programming, clips and movies, representing premium content from close to twenty networks and two major film studios. Today’s announcement represents the second non-equity content agreement for the News Corporation and NBC Universal venture. Recently, Comcast Corporation joined as a non-exclusive content provider and agreed to contribute content from E!, Style, G4, Versus and Golf Channel.

The News Corporation and NBC Universal venture’s content will be distributed via some of the most popular sites on the Web, including AOL, MSN, MySpace, Yahoo and Comcast. The new NBCU/News Corp. joint venture will have offices in Los Angeles and New York. Permanent management and corporate branding will be announced shortly.