The all stock deal will result in a partnership (instead of a rivalry) between CNN and Flipboard, which will syndicate CNN’s news program content into digital magazines, including Fareed Zakaria’s GPS Daily, The Lead with Jake Tapper, and John King’s “Go Inside Politics.”
CNN and Flipboard will also begin an ad partnership, with CNN’s head of digital, KC Estenson, referring to the deal as “the kind of advertising you see in print magazines,” with CNN and Flipboard selling jointly, TechCrunch reports.[more]
Flipboard has been ramping up publishing partners and advertisers including last month’s deal with Condé Nast’s Vogue, as well as previously deals with Bon Appétit, Details, Glamour, Golf Digest, Vanity Fair and W, as well as the New York Times, The Telegraph, Forbes, Esquire, Fast Company, Oprah, and Lonely Planet.
“By partnering with CNN we can provide the world-class news our audience expects and expand our global coverage in a significant way,” said Flipboard CEO Mike McCue. Launched in 2010, Flipboard currently has over 100 million users, adding 250,000 new readers daily. The Zite acquisition will only hasten that growth.
As for Zite CEO Mark Johnson, he won’t be a part of the new deal, and announced in a blog post that he is starting a new company.
Either way, CNN’s digital future is looking up. “By tapping their expertise, we will create new revenue opportunities and expand CNN’s already massive mobile audience,” Estenson said. “With this deal CNN is invested in the long term success of Flipboard.”
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