Time Inc. and Telescan to Develop FortuneInvestor Website
Posted on October 24, 1997
Time Inc. and Telescan Inc. (Nasdaq: TSCN) today announced a strategic agreement to develop FORTUNEInvestor, an Internet website for investors that combines FORTUNE editorial content with Telescan's comprehensive stock and mutual fund information and analytical tools.
Under the agreement, Time Inc.'s New Media division, in addition to providing FORTUNE editorial content for the website, will be responsible for sales and marketing. Telescan will provide its premier financial database, state-of-the-art financial analysis and research tools, web development and site management. The companies will share equally in subscription, advertising and other product revenue from the site, which is expected to launch early next year.
"Our market-leading branded finance sites, MONEY.com and FORTUNE.com, already provide unique value to millions of users," said Linda McCutcheon, president of Time Inc. New Media. "FORTUNEInvestor will build on that success, delivering the accurate and comprehensive information, research and analysis that investors require every day."
