Whew, I can finally stop saying "no comment" to the rumors. CBS did indeed acquire WallStrip. Congrats to the entire team, especially Howard (you da man!). He has a post which covers how all of this went down, from idea to acquisition. It's appropriately entitled "You Can Make Money From Blogging". I think Howard pulled off a pretty amazing feat -- cobbling together a group of people who he'd initially only met virtually and actually making the project successful.
The rumors going around for the last week or so have put a LOT of emphasis on the hostess, (with the most-ess) Lindsay Campbell. Obviously Lindsay does a great job and I think she was a perfect choice for the host position. But people really need to recognize the talent and hard work of Adam Eland, Jeff Marks (BrightRed Pictures) and Jon and Roman from Fresh Bread Network. These guys really know their stuff and have been working their a$$es off to get these shows out every day. I've seen the shooting and editing process and was shocked at how much work it takes to produce 2 to 3 minutes of video. It's truly been a team effort and CBS is acquiring a team that knows a lot about producing and distributing web video and is damn good it.
Speaking of video, here's today's WallStrip which covers the CBS deal. Enjoy:
P.S. NewTeeVee has a bit more on the deal with CBS.
P.P.S. Fred "Rolodex" Wilson (aka Super VC) has a great post about this WallStrip deal. He gets to the heart of why CBS wanted to bring the team in-house.
P.P.P.S. TechCrunch has a follow-up to their original rumor post. They still don't seem to get it. Perhaps Duncan needs to read Fred's post.
P.P.P.P.S Be sure to read the comments by Jeff and Adam on that TechCrunch post for the real deal.
And finally, here's the official press release from CBS:
CBS Interactive today announced the acquisition of Wallstrip, an online property that produces and syndicates a daily webshow focused on financial news. The acquisition was first referenced in Wallstrip's program this morning.
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.
"CBS recognizes that original web content - whether it's news, sports or entertainment - is starting to show real traction with audiences, producers and advertisers," said Quincy Smith, President, CBS Interactive. "As CBS evolves from a content company into an audience company, we need to build a team of talented web producers who ‘get' the growing online demand."
Wallstrip brings to CBS a loyal community of stock market enthusiasts, venture capitalists, business students and traders. The show's unique blend of irreverent humor and finance attracts a young, predominantly male viewership. In the six months since it launched, the Wallstrip team secured syndication for its daily content through properties such as YouTube, Veoh, Blip.tv, iTunes, Yahoo! Podcasts, Google Finance, TheStreet.com, AOL Uncut, vSocial and Revver. Through these and other distribution outlets Wallstrip has built a sizable online audience.
"CBS is a great match for Wallstrip," said Howard Lindzon, Wallstrip Founder and CEO. "The CBS Interactive team is committed to growing the property and expanding the programming while keeping true to the core product. We have a lot of room to grow inside of the financial news vertical and CBS will help us get there faster. In addition, it will be exciting to watch what happens when the creative talents of Adam and Jeff are unleashed inside CBS Interactive."
Continued Smith, "The Wallstrip team is made up of savvy and resourceful web content creators whose talents we will utilize as we build our next-generation roster of programming verticals. Also, their distribution strategy of syndicating their content to many video properties rather than force people to visit Wallstrip.com is very much in line with the CBS Interactive philosophy."
As part of the acquisition, Wallstrip writers and producers Adam Elend and Jeff Marks will executive produce original video content for CBS Interactive and Lindsay Campbell will continue as host of the program. Wallstrip creator, Howard Lindzon will take on an active consultant role for the division.
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products) and video/ DVD (CBS Home Entertainment). For more information, log on to http://www.cbscorporation.com/.
Thanks Mike!
You're looking pretty darned smart right now, as you were the VERY FIRST to climb on board with Howard's idea.
LONG Mike's web video picks.
Thx Mike - h
I so happy and pleased for all the hardworking, creative people involved in Wallstrip.
Terrific news Mike.........you are next! When are you going video?
Great meeting you face-to-face during the Wallstrip deal process, Mike. U are da man! Rog
congratulations man
very happy for you
Congratulations to everyone involved! I love the show and it's definitely a great acquisition for CBS... now CNBC needs something like this.
I hope Howard knows that Leno is with NBC not CBS, ouch.
Paul,
Yes, Howard knew that Leno and Law & Order are on NBC. It was a joke.
;-)