In a sign of the increasing importance of high-end financial blogs, Reuters Group Plc (NASDAQ: RTRSY) is starting a new network of the sites. Or, it could be that the Reuters business development people have down time because of its upcoming purchase by Thomson Corp. (NYSE: TOC).

The offer that Reuters is making to a number of high-end blogs is that it will link to the participating sites from Reuters.com, offer free access to selected Reuters Headlines (RSS or Headline Wizard) and Reuters Video Player to publish Reuters News, and get 30% of an advertising program that the big financial services company will manage.

In return, each blog agrees to execute contracts with comScore and NetRatings to assign its traffic to Reuters.com. NetRatings ranks Reuters.com as the No.7 financial website with unique visitors of 6.1 million in May.

Reuters may be trying to match blog initiatives at media outlets including FT.com, WSJ.com, and AOL.com.

Either Reuters has a very high regard for financial blogs or it needs to pump up its audience ratings.

Disclosure: 24/7 Wall St. was approached by Reuters about this opportunity.

Douglas A. McIntyre is a principal at 24/7 Wall St.

Reuters starts financial blog network originally appeared on BloggingStocks on Mon, 09 Jul 2007 16:05:00 EST. Please see our terms for use of feeds.