Not as big a deal as NYT’s own story makes it out to be: The New York Times and CNBC will share web content on each other’s sites, which is a simple co-syndication deal with no money changing hands. Some significance beyond that, though, as both face increased competition from WSJ under News Corp (NYSE: NWS). FoxBusiness.com, also part of News Corp, is not yet a competitor in any right.

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Times will provide its written coverage to CNBC, while CNBC will offer its video news to the Times’ website. Both NBC and MSNBC already have a similar content exchange in place with the Times. Meanwhile, WSJ and CNBC still have that long-term contract for on-air appearances through 2012. .