Richmond, Va. - Media General (NYSE: MEG), the owner of newspapers, TV stations and websites in the Southeast, said that it has signed a deal with Texas-based NARAE Enterprises to acquire DealTaker.com, an online social shopping portal with more than 100,000 registered users.

Financial terms of the deal, expected to close by mid-year, were not disclosed.

Founded in 2004, DealTaker.com has relationships with 1,500 affiliated retail businesses.

The site provides coupons, rebates and other shopping deals, and offers community forums where users and moderators share information about bargain hunting.

"It will add a platform for community-based commerce to our local sites and will provide non-traditional online revenue," said Kirk Read, the president of Media General's interactive media division.

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http://www.dealtaker.com