the top personal-finance Web tool.
But in discussing – and defending – the deal last week, NBC and Microsoft executives were pointed to the new site's massive reach. The venture will reach some 15 million unique visitors a month. Naturally, CNBC cable, which reaches about 79 million homes daily, and MSN, which draws in 230 million visitors a month, will both help drive audiences to the new site.
The CNBC MoneyCentral deal won't be as sweet for the TV network. No money or stock changed hands in the transaction, and the two companies plan to divide future revenues from ads and subscription services. (One is already in the works: a service that alerts members that a company in their portfolios is about to be featured on CNBC's "Power Lunch.") Microsoft will run the site in Redmond, Wash., and will bear most of the operating costs, while getting a larger share of the revenues.
A significant chunk of the CNBC.com staff in Fort Lee, N.J., will be laid off, sources said. No layoffs are expected at Microsoft.
NBC's Wright said he's hit on the right formula this time. "As we replicate the partnership model with Microsoft for CNBC, we're creating another success on the Internet for an NBC property," he told TheStandard.com. "That's definitely a model we'll be sticking with in the future." Make that back to the future.
