McGraw-Hill Broadcasting Group, a part of The McGraw-Hill Companies formed a partnership to develop Web Channels - local news and information Web sites - for its four ABC network-affiliated television stations with Internet Broadcasting Systems, Inc. (IBS), the company leading the convergence of local television and the Internet.

"IBS is the clear leader in developing Web Channels for local television stations. Our agreement will allow us to use IBS' Internet expertise to extend the reach of our local television news and information in each of our four markets. The Web Channels we are developing will enable us to expand our audience and capabilities by delivering real time news round-the-clock, while also increasing our advertising opportunities," said Ed Quinn, president, McGraw-Hill Broadcasting Group.

McGraw-Hill Broadcasting Group owns and operates four ABC network-affiliated television stations: KGTV in San Diego, KMGH in Denver, WRTV in Indianapolis, and KERO in Bakersfield, Calif. Working in partnership, IBS and McGraw-Hill Broadcasting Group have built strong local news and information Web sites for each of the stations. The Web Channels are managed by full time teams of Internet journalists employed by IBS that will work directly within the television stations' newsrooms creating up-to-date breaking news and cutting-edge video feeds.

"Our strategic partnership with McGraw-Hill Broadcasting Group is a key indicator of our ability to drive results online for premier broadcast brands," said Tolman Geffs, CEO of IBS. "Partnering with the McGraw-Hill Broadcasting Group and the addition of their four leading ABC network affiliates will expand IBS' growing network to 49 markets across North America, and further establish IBS as the 'New Network'."

As part of the agreement, The McGraw-Hill Companies is investing in IBS through McGraw-Hill Ventures Inc., which identifies and invests in growth-oriented companies.

"McGraw-Hill Ventures invests in selected companies like IBS that will extend The McGraw-Hill Companies' franchises in our major markets and open new markets," said Michael Hehir, president, McGraw-Hill Ventures, Inc.

Internet Broadcasting Systems

IBS is the first and largest network of local Web Channels that combine the "must-know" local content of the dominant TV affiliate in a top market with a broad range of Web services, backed by extensive promotion from the station. IBS is launching local Web Channels across a total of 49 markets, including 29 of the top 50, primarily with top-ranked stations. Along with McGraw-Hill Broadcasting Group, IBS is launching across the U.S. in partnership with Hearst-Argyle Television, Post-Newsweek Stations, a division of The Washington Post Company and across Canada with the CanWest Global network.

Since launching its first site in 1996, IBS has been recognized for excellence in online journalism by major organizations like the National Press Club, The Associated Press, and the Society for Professional Journalists. In addition to IBS' broadcasting partners, other investors in IBS include InfoSpace and St. Paul Venture Capital.

The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies is a global information services provider serving the financial services, education and business information markets through leading brands such as Standard & Poor's, Business Week and McGraw-Hill Education. The corporation has more than 400 offices in 32 countries. Sales in 1999 were $4.0 billion (read more about McGraw-Hill here).

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