The New York Times is reporting that CBS (CBS) is in the final stages of developing an online news channel — unofficially called CBS News Stream — that will repurpose existing news and videos for a strictly online audience.
Corporation spokesman Dana McClintock told the paper that “we are currently talking to a number of partners” about a potential streaming news service.
“There are all kinds of exciting opportunities offered by new platforms, and we intend to keep pursuing them,” said Mr. McClintock.
The move is likely to help boost the audience for its news division, which has seen its rivals grow and diversify their offerings.
From the NY Times:
For CBS, which sat, sometimes glumly, on the sidelines while its rivals created cable news channels like MSNBC, an Internet channel would be a relatively low-cost way to spread out its news-gathering costs and, maybe, reach viewers who are not home for the “CBS Evening News.”
It might also help attract attention to its website, CBSNews.com, which has lagged behind most other American television news sites.
CBS is up 56% year-to-date.