Six Newspaper Companies Invest in AdOne
Six major media companies said they have agreed to take equity positions inInternet classifieds company AdOne LLC, which operates ClassifiedWarehouse.com.
Six major media companies said they have agreed to take equity positions inInternet classifieds company AdOne LLC, which operates ClassifiedWarehouse.com.
Six major media companies said they have agreed to take equity positions in Internet classifieds company AdOne LLC, which operates ClassifiedWarehouse.com.
The companies are: Belo Corp., Journal Register Co., Lee Enterprises, Media General, Morris Communications Corp. and Pulitzer Inc.
The companies said they will provide a second round of capital to AdOne, become participating members in AdOne’s network and various other online classified products, and provide “significant promotional support.” Financial specifics were not disclosed.
ClassifiedWarehouse.com is a national network of employment, automotive and real estate classifieds. ClassifiedWarehouse.com aggregates listings from hundreds of newspapers and other Internet content providers and serves the top 50 US markets.
AdOne has a distribution partnership with several Internet brands, including Lycos.
The new investors will join Advance Publications Inc., Donrey Media Group, The E.W. Scripps Company, Hearst and MediaNews Group, which collectively acquired AdOne in January, as network participants and equity partners.
ClassifiedWarehouse.com said it hosts more than half a million ads each day and averages more than six million new classifieds per month.
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