MoneyWatch is being launched as a sister site to BNET, the business news site founded by CNET, but, as Mason explained, will be branded across all CBS properties and will be promoted across them all—TV, national and local; radio—owned as well as syndicated, terrestrial and streaming; online; and mobile. For instance, the stock widget on the front page of CBS radio sites will be rebranded to MoneyWatch.com. Correspondents will be referred to as MoneyWatch.com correspondents. BNET, which Mason says has about 13 million unique users now, will feature a MoneyWatch promotion on every page.

Editorially, the new venture is led by Eric Schurenberg, the former managing editor of Money magazine, as editorial director with the BNET staff providing most of the editorial support. They’re adding some staff, including broadcast talent; Mason said video will play an important part. Advertising will be sold as part of the BNET rate card but with separate sponsorships. Launch sponsors will get exclusives or semi-exclusives for the first six months or so; for now, it’s a club so exclusive that no one has joined. CBS is targeting the financial service community for sales; Mason acknowledges that’s a tough sell in this climate but pitches the new site as an opportunity for the challenged community. It sounds daunting, though, given today’s environment and the rapid consolidation of financial service providers.

Update: The preview site is live and the sponsor for now is BNET. It’s a little off putting to post a note welcoming people to the “future home” of something that’s visible, especially when it shows up repeatedly.  Personal finance is an increasingly crowded space and it’s too soon to say how well MoneyWatch will compare to other newcomers—TheStreet’s MainStreet, IAC-DJ JV FiLife.com.

Full disclosure: Our parent, ContentNext Media, syndicates to BNET.