Peter Lynch, vice-chairman of Fidelity Management & Research of Boston, might not tell investors to put all of their money in one basket, but Fidelity Investments is doing just that with its television advertising dollars.
Fidelity has struck a deal with CBS Corp. of New York that will direct all of its television advertising to that network, according to Fidelity. As part of the deal, Fidelity will sponsor television, radio and Internet programming for a range of CBS media companies.
Fidelity will sponsor sports and news programming on CBS television and it will be the exclusive sponsor of a new news segment called American Dream that CBS anchor Dan Rather will host once a week during his evening news broadcast beginning Sept. 15. Fidelity will also sponsor radio programming and content on CBS New Media's web sites such as CBS.com, CBS.MarketWatch.com and CBS.Sportsline.com. Earlier in the summer, CBS.MarketWatch.com agreed to provide financial news on the Fidelity site.
A Fidelity spokesperson declined to comment on the cost of the campaign.
This is the first time that Fidelity, which currently uses all of the major networks for advertising, has placed all of its television advertising with one network. Fidelity's print advertising will operate independently of the CBS arrangement, the spokesperson said.