Newspaper Publishing Leaders Collaborate on Web Ad Network
As online publishing continues to erode print ad revenue, the three largest U.S. newspaper publishing groups, Gannett, McClatchy, and The Tribune Company, have agreed to collaborate on a single network that will handle all the banner advertising on their respective websites. Together they represent some of the largest papers in the country, including USA Today and the LA Times.
According to the Wall Street Journal, each company will contribute 10% of their advertising space to the network. The Journal expects the advertising triumvirate to make an official announcement early this year, but also warns that the deal could fall through.
Apparently, the three publishers want to use the network to lure in big-ticket advertisers like automakers and telecommunications companies.
Gannett CEO Craig Dubow initially mentioned the plan at a press conference in December, but did not provide any details. “The goal is to create the largest network of newspaper- developed local sites for any advertiser to reach local consumers,” said Dubow.
All three publishers are realigning their businesses to incorporate more online publishing. In December, McClatchy sold its flagship paper the Minneapolis Star Tribune at a loss after acquiring Knight Ridder.
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