CBS News and Data Broadcasting Launch CBS MarketWatch

Posted on October 31, 1997

CBS News and Data Broadcasting Corp., a provider of on-line financial and market information to the individual investor, have joined forces to create CBS MarketWatch, it was announced by Andrew Heyward, president, CBS News; and Larry Kramer, vice president, News and Sports, Data Broadcasting.

CBS MarketWatch will combine the resources of both companies to build an Internet business information site for the individual investor, business professional and the general public.

CBS will bring to the new product the full news gathering resources and viewership of CBS News while also providing the sales, marketing and branding support for the new Internet site. DBC will provide the basic Internet technology and financial reporting structure for CBS MarketWatch.

The existing DBC Web site, which will form the backbone of the new service, was rated this week a close second to Microsoft Investor as the best Web sites for investors by Barron's. The magazine lauded the DBC site as "high in every content area" and praised its "good, original news coverage."

The new service, which is a 50-50 joint venture between the partners, will offer stock prices, a broad range of business news and real-time financial information and analysis at no charge. CBS MarketWatch will provide people who need real-time stock market numbers with that information on a subscription basis.