CBS Interactive is expanding its online video assets with the purchase of Wallstrip, an online financial news video show. CBS reportedly paid in the single-digit millions for the program with a "Web 2.0 attitude," and committed to continue the show for several years.
While Wallstrip will maintain a separate identity, the Wallstrip team will work with CBS Interactive to build original web and mobile-based content and community. Wallstrip host Lindsay Campbell and producers Adam Elend and Jeff Marks will become full-time employees of CBS, and Wallstrip creator, Howard Lindzon, will play a consulting role.
According to dealbreaker.com, since its launch six months ago, Wallstrip has secured syndication for its daily content through such properties as YouTube, Veoh, Blip.tv, iTunes, Yahoo! Podcasts, Google Finance, TheStreet.com, AOL Uncut, vSocial and Revver, bringing to CBS a sizable, mostly young, male audience.
CBS News recently partnered with internet TV service Brightcove to syndicate ad-supported video from CBS News online.