CNBC, N.Y. Times to share content

NEW YORK, Jan. 7 (UPI) -- CNBC and The New York Times announced an online content-sharing pact involving their business and technology products.

The companies said the collaboration will broaden the reach of each organization's newsgathering to viewers, readers and users of CNBC.com and NYTimes.com.

The agreement marks the first time the Times has collaborated with CNBC.

Under the agreement, CNBC will provide content and multimedia features from CNBC.com to NYTimes.com and The New York Times will provide print and online coverage from the newspaper and its Web site to CNBC.com.

Each site will establish direct links to the other's site.

"This strategic agreement brings together two leading news organizations offering more original content and coverage to our audience," CNBC President Mark Hoffman said in a statement. "The New York Times is the perfect complement to reinforce CNBC's reputation as providing the most comprehensive and well-respected global voice in business and financial news."

"Together CNBC.com and NYTimes.com will reach more business decision makers than any other financial Web site in the U.S.," Vivian Schiller of NYTimes.com said in a statement. "The combined resources of our two organizations means that our users will benefit from an unparalleled depth of business and technology coverage."