NEW YORK — CBS Corp., which has bought at least five Internet-related companies since July, acquired a 40% stake in closely held Women's Consumer Network for $50 million in advertising over five years.
The owner of the CBS television network said its Infinity Broadcasting Corp. unit, the second-largest U.S. radio company, will get part of the stake, based on how much advertising Women's Consumer Network does with Infinity stations.
Washington-based Women's Consumer Network provides online services that help women with finances, life issues and careers. It researches products from mortgages to car repairs and provides feedback to its members while using their combined buying power to negotiate discounts. It went on the Web last year at http://www.womensconsumernet.com.
New York-based CBS, which has agreed to merge with Viacom Inc., has been buying stakes in Internet businesses in exchange for promotions across its TV, radio and outdoor advertising businesses.
CBS shares declined 44 cents to close at $46.25 on the New York Stock Exchange.
