While the magazine’s top management continues to hammer out a deal that will place it with a new owner, Newsweek has entered into a content sharing partnership with financial media site TheStreet.com.
According to terms of the deal, TheStreet and its sister site, MainStreet.com, will provide stories to Newsweek which will be posted online with annotation and links back to their sites. Meanwhile, Newsweek also will provide stories that will be posted on TheStreet and MainStreet, with correlating annotation and links back to Newsweek.com.
In addition, the print edition of Newsweek will feature content from TheStreet and MainStreet.
According to Newsweek CEO Tom Ascheim, the company views its partnership with TheStreet “as an opportunity to share quality branded content that rounds out Newsweek’s coverage of the business/finance industries with some of the best reporting for readers with an interest in breaking business news, personal finance and the markets. TheStreet readers will benefit from Newsweek’s highly-regarded reporting and analysis on national affairs, the business community and the economy.”
A revenue-sharing element is presumably included in the deal, although a representative said they are not disclosing those details.
TheStreet was founded in 1996 by financial guru and TV personality Jim Cramer.