BOYNTON BEACH, Fla.-Motorola Inc.’s Embarc Communication Services division and CNBC have formed a 10-year, multimillion dollar alliance in which the companies will develop and market wireless financial news and information services via CNBC’s 24-hour cable TV network.
The news services will be transmitted over Motorola Embarc’s wireless broadcast network, which is a nationwide network of satellite linked paging transmitters. The news will be accessed using a pocket-sized receiver.
The receiver and initial service activation will cost about $165, said the company, and monthly rates will run between $15 and $19. Service will be available in 230 major metropolitan markets throughout the United States and Canada.
“For the first time, comprehensive, up-to-the-minute business news, information and analysis will be available-anytime, anywhere-through CNBC wireless service,” commented David Zaslav, CNBC senior vice president, business development and affiliate marketing and sales.
Scheduled for shipment in December, CNBC Market Page, the venture’s first “product,” will feature CNBC headlines including “The Dorfman Report,” “Street Talk,” with David Faber and “Winners and Losers,” with Joe Kernen. CNBC Market Page also will post financial market data updates and quotes from the 50 most widely held equities, said the companies.
Embarc will serve as the master reseller of CNBC news content and currently is in discussions with a variety of radio common carriers. The wireless service initially will be sold through direct response from Motorola’s WBN and several major brokerage houses, said Motorola and CNBC.
