TheStreet.com (TSCM Quote), publisher of this Web site, announced that it has acquired certain ratings assets of Weiss Ratings in a bid to diversify beyond its core emphasis on news reporting and stock analysis.
Terms of the deal were not disclosed.
Founded in 1988, Weiss Ratings, a wholly owned subsidiary of Weiss Group, tracks the risk-adjusted performance of more than 16,000 mutual funds and more than 6,000 stocks. It also uses proprietary quantitative computer models to evaluate the financial strength of more than 13,000 financial institutions, including life, health and annuity insurers; property and casualty insurers; HMOs; Blue Cross Blue Shield plans; and banks and savings and loans.
TheStreet.com said the purchase dovetails with two of its goals: buying firms that will add to the bottom line, while diversifying both the sources of revenue and content to capitalize on the fast-growing advertising market and lessen reliance on any one product or service. ...
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