CNN has entered into a content and advertising relationship with Internet Broadcasting, the nation's largest publisher of TV station Web sites.

Under the terms of the deal, announced on Tuesday, Internet Broadcasting will supply local news content to CNN.com. The stories will appear on the home page as well in the "U.S." and "Weather" sections of CNN.com. In turn, CNN.com will supply national, international and political news stories, in link form, on the home pages and national news pages of Internet Broadcasting sites across the country. Note: This Web site is an Internet Broadcasting partner site.

The two companies currently share some content and links, but this new deal represents a leap forward in content sharing between CNN.com and the Internet Broadcasting Web sites. The expanded relationship will drive increased traffic from CNN.com to local sites, while the local sites will benefit from increased access to CNN content.

"CNN's global reporting attracts millions of online consumers to CNN.com for domestic and international news every day," Walton said in a press release announcing the agreement. "Partnering with Internet Broadcasting adds another dimension -- enhanced coverage of local news and events -- and brings CNN reporting to significantly more people online."

While the NBC affiliate Web sites run by Internet Broadcasting will be part of the relationship, it will not include the ten NBC owned-and-operated stations that are also part of the Internet Broadcasting network.

CNN, MSNBC and Yahoo are locked in a fierce battle for market share, and all three have actively pursued deals which would make their content easily available to the readers of local broadcast television Web sites and Internet portals. That portion of the market is considered to be a strong engine of growth; particularly as the national audience increase for news appears to be slowing.

According to Nielsen/Net Ratings from April, MSNBC.com is ranked first, with 33.14 million unique visitors, with Yahoo close behind with 33.12 million. CNN trailed, with 27.9 million unique April visitors. This new relationship with Internet Broadcasting is expected to boost CNN.com’s numbers into the range of its two competitors.

As part of the new relationship, CNN is acquiring an equity position in Internet Broadcasting, joining Hearst-Argyle Television, as well as Post-Newsweek Stations, McGraw-Hill Broadcasting, and Split Rock Partners as equity owners in the company. CNN will also gain a seat on Internet Broadcasting's Board of Directors.

The agreement also offers expended online advertising opportunities for both companies. CNN will continue to sell exclusive CNN.com packages. But Internet Broadcasting will offer select CNN.com ad placements as part of its nationwide, regional, or market-by-market buys.

Internet Broadcasting will begin selling CNN.com ad placements immediately.