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CBS acquires Wallstrip.com

Network nabs popular site

CBS has acquired Wallstrip.com, producer of a popular daily video and blog that takes a lighthearted look at Wall Street.

The site syndicates a daily video segment across YouTube, Veoh, Blip.tv, Yahoo and Google Finance, among other sites, to a devoted follow-ing of traders, students and stock market enthusiasts.

It’s the first acquisition of web-only content by CBS, which plans to plug the programming into its own distribution network and to replicate the business model within CBS Interactive.

“CBS is acknowledging that we need to be on all platforms, and that doesn’t mean regurgitating television content,” said CBS Interactive prexy Quincy Smith.

Acquisition was announced on Wallstrip.com this morning via a video parody that showed a Wallstrip reporter being escorted out of CBS’ Black Rock headquarters.

As much as acquiring the content, Smith said the purpose of the deal was to bring on founder Howard Lindzon and producers Adam Elend and Jeff Marks, who will assist in developing similar ventures, perhaps in videogames or other fields that have a devoted following.

CBS producers will be asked to help improve the product without dam-aging its amateurish, grainy appeal.

“CBS is committed to growing the property and expanding the pro-gramming while keeping true to the core product,” Lindzon said.

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