CNBC and the New York Times have joined forces to take on News Corp's Wall Street Journal and Fox Business Network.

News Corp launched FBN in October in a challenge to CNBC as the major cable business channel.

Rupert Murdoch's company also completed its take over of Journal owner Dow Jones late last year and he has said the newspaper's content will be used to bolster FBN.

Now CNBC and the Times have announced a deal which will see the former supply video to the Times' website, and the newspaper provide business and technology coverage in return.

NYTimes.com general manager Vivian Schiller said the partnership would enable it "to reach more business decision makers than any other financial website in the US".