CBS Acquires WallStrip

Jossip is reporting that corporate focused video blog WallStrip has been acquired by CBS News for $5 million. The report states that an announcement is expected early this week and involves WallStrip host Lindsay Campbell being the next Amanda Congdon for CBS, fronting online shows.

CBS Acquires WallStrip 1I spoke to some one close to the deal who confirmed Jossip’s story. He told me that New York based Venture Capitalist Fred Wilson, who had previously invested $500,000 in WallStrip, negotiated and sealed the deal. The deal is said to be focused on signing Lindsay Campbell. CBS was keen to have Campbell on board and a cast iron contract meant that acquiring WallStrip was the only way they could get to her.

WallStrip as a video blog/ show has previously met with mixed revues. The dry topics and patchy scripting being pulled off only by the shining talent of Campbell. As a deal it has a sense of “What The?” about it. My source described the deal as 10x Wilson’s investment of $500,000 on revenue of $0. I can’t confirm WallStrip’s income but it begs the question in terms of ROI for CBS if WallStrip’s advertising revenues are low.

[Via TechCrunch]