CNN and Time Inc. Will Merge Business and Finance Internet Assets to Create Premier Business and Financial Website

Business Wire, Sept 12, 2005

NEW YORK -- CNN and Time Inc. announced today that the business websites CNNMoney.com, Fortune.com, FSB.com and Business2.com will be merged and re-launched in January 2006 as a single website. The new website will retain the CNNMoney.com name and be available at www.cnnmoney.com.

The site will continue to feature daily business news, markets coverage, commentary and analysis produced by the site's dedicated staff, while drawing on a rich array of content produced by the magazines MONEY, FORTUNE, FORTUNE Small Business and Business 2.0, as well as from CNN's global staff.

"This is an unprecedented combination of world-class brands," said Ann Moore, Chairman and CEO of Time Inc. "It reinforces Time Inc.'s commitment to the Internet and our effort to deliver content in multiple ways."

CNN President Jim Walton continues, "We are very excited to be expanding our partnership with Time Inc. and are proud of CNN's continuing commitment to being a leader in news and information delivery."

Vivek Shah, the General Manager of the FORTUNE/MONEY Group, will oversee all aspects of the new website's business operations. CNNMoney.com's Executive Editor and Vice President Chris Peacock will continue to oversee site programming and editorial content.

"CNNMoney.com will be one of the most comprehensive business and finance destinations on the Internet," said Shah. "Our users will embrace its full array of offerings."

"We are excited about CNN's and Time Inc.'s plans to build on an already strong online brand," said Mike Kelly, President of AOL Media Networks. "We look forward to continuing to work with CNNMoney to grow our revenues and to increase marketshare in this area for Time Warner."

According to Nielsen/NetRatings, the combined, non-duplicated audience of the sites in July was 9.2 million unique visitors, placing CNNMoney among the premier business and finance websites.