Time, CNN Merging Web Units

A number of business sites will be consolidated into CNNMoney.com.
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Time Warner's

(TWX)

CNN and Time Inc. units said today that they will merge several business-based Internet assets starting next year.

The respective sites of CNNMoney.com, Fortune.com, FSB.com and Business2.com will be relaunched in January as a single Web site under the banner of CNNMoney.com.

The move comes on the heels of several online news operation expansions, including

Viacom's

(VIA.B)

recent announcement that it is blending its televised and online news and sports operations on its CBS sites.

Time Warner will continue to feature daily business news, markets coverage, commentary and analysis while incorporating content produced by Time Inc. magazines

Money

,

Fortune

,

Fortune Small Business

and

Business 2.0

, along with CNN's global staff.

"This is an unprecedented combination of world-class brands," said Time Inc. chief Ann Moore. "It reinforces Time Inc.'s commitment to the Internet and our effort to deliver content in multiple ways."

"We are very excited to be expanding our partnership with Time Inc. and are proud of CNN's continuing commitment to being a leader in news and information delivery," added CNN President Jim Walton.

Vivek Shah, the general manager of the Fortune/Money Group, will oversee the new site's business operations. CNNMoney.com's executive editor, Chris Peacock, will continue to oversee site programming and editorial content.

Nielsen/NetRatings for July saw the combined, nonduplicated audience of the sites at 9.2 million unique visitors, according to the company.

At midday Monday, Time Warner shares were trading down 16 cents to $18.18.