MSN MoneyCentral and CNBC.com Websites To Merge

Posted on April 25, 2001

Microsoft Corp. and NBC announced plans to merge the MSN MoneyCentral and CNBC.com websites. Through the multiyear agreement, MSN will become the online home for the new merged site, CNBC MoneyCentral, combining the personal finance offerings from MSN with content from the financial cable news network. TheStandard.com has reported that some of the CNBC.com staff located in Fort Lee, N.J., would be laid off as a result of the merger.

``The MSNBC alliance has demonstrated that combining a network's core programming competencies, brand and promotional expertise with a technology company's distribution strength and technological know-how produces an unparalleled resource for consumers,'' said Bob Wright, vice chairman of GE, and president and CEO of NBC. ``With the strength of MSN's reach and the power of the CNBC brand, we have a unique ability to create yet another formidable television/Internet franchise. By teaming up again, we're creating an incomparable combination of personal finance information and tools for consumers.''

``We've had a great relationship with the NBC family for many years now, and the opportunity to bring together the best of what we each can bring to the Web in the finance category is clearly a win-win situation,'' said Rick Belluzzo, president and chief operating officer at Microsoft. ``By combining CNBC's leading content with Microsoft's award-winning personal finance site, MSN MoneyCentral, we are merging the best of both worlds into a personal finance powerhouse on the Web.''

Under the terms of the agreement, the two companies will promote the new site across the CNBC cable channel and the MSN network. Throughout the daily broadcast, CNBC television will send its viewers to the joint site for commentary, investing news and personal financial tools.

The new site is expected to launch this summer. Like MSNBC.com, the site will operate from Microsoft's offices, with the editorial team split between Fort Lee, N.J., and Redmond. Microsoft will oversee general operational management for the site under the direction of Erik Jorgensen, general manager of the Consumer Financial Products Group at Microsoft. A joint editorial board will provide strategic editorial direction for the site.