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Politics : Formerly About Applied Materials

AMAT 341.36

+1.3%

Jan 29 3:59 PM EST

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To: Gottfried who wrote (44695)	3/29/2001 12:18:36 PM
From: michael97123	Read Replies (2) of 70976

Sorry Maria, but this ugly SOB will drive me to Bloomberg. CNBC signs TheStreet.com's Cramer in exclusive TV pact NEW YORK, March 29 (Reuters) - Financial news network CNBC said Thursday it struck an exclusive pact with TheStreet.com Inc. (NasdaqNM:TSCM - news) co-founder and former hedge fund manager James Cramer, who joins the network as a market commentator. Cramer said in early December he would return to TheStreet.com as an advisor to Chief Executive Thomas Clarke to help increase the online financial news company's profile. Investors have become disillusioned with the company as its share price has fallen more than 75 percent and as it struggles to become profitable. As part of the CNBC deal, Cramer will appear biweekly as co-host on CNBC's morning show ``Squawk Box'' and once a week as a contributor on the network's evening show ``Business Center,'' as well as provide ongoing analysis and stock selections for the network, which has been trying to raise its ratings. The financial terms of the deal were not disclosed. Cramer's cable appearances dropped off when he became embroiled in legal wranglings with the Fox News Channel after he talked about the shares of a company in which he was a major shareholder. TheStreet.com then canceled the show and Fox sued the company and Cramer for a breach of contract. Fox settled its suit against TheStreet.com in October after the company agreed to not produce another TV program like the one that ran on Fox before May 2001. CNBC, owned by General Electric Co. (NYSE:GE - news), said in a statement that Cramer would be bound to the same financial policies as all staff members and would fully disclose all his public equity holdings. In a note to TheStreet.com subscribers, Cramer said earlier this week his column would only be available to paying subscribers -- both in real-time or archives. Previously, some of the premium content was available for free after 24 hours. Earlier this month at a media conference, Cramer said TheStreet.com would have been out of business were not for subscriptions. TheStreet.com switched from a mostly- subscriptions model to a mostly free model last summer, but has struggled as the advertising market dried up. Cramer has said TheStreet.com is currently focused on spreading the company's brand to other areas such as newsletters and television. TheStreet.com shares were flat at $2-1/2 in late morning trade.

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