NEW YORK (TheStreet) - Jim Cramer, the television and online Wall Street commentator, agreed to a new four-year contract on Tuesday with the financial and business news service TheStreet (TST), a Web site he founded in 1996 and where he continues to lead its markets coverage. Cramer's contract, which will extend through December 2017, comes three years after he declared that he would not renew his contract with TheStreet, citing disagreements with previous management.
Under current CEO Elisabeth DeMarse, Cramer has said the company, which acquired The Deal in 2012, is much better positioned to grow revenue and expand its readership. Cramer, who appears regularly on CNBC as well as headlining the show "Mad Money," will continue to hold the position of Chief Markets Commentator at TheStreet while trading a portfolio for his charitable trust as part of Action Alerts Plus, a subscription newsletter.
"I am thrilled to sign this long-term agreement with the company I founded 16 years ago," Cramer said in a statement.
DeMarse, who became CEO and chairman of TheStreet in March 2012, said Cramer's decision to sign a longer-term contract with TheStreet was a sign that the company's finances have improved and that its businesses are growing.
"Jim Cramer's continued commitment to TheStreet and eagerness to renew his contract for a longer period than the last agreement is strong validation of the strategic direction of the company," said TheStreet's Chief Executive Officer Elisabeth DeMarse. "Harnessing Jim's digital rights enables our premium subscription division to drive greater revenue, expand our video offerings and launch new products to support organic growth."
Written by Leon Lazaroff