Gannett Acquires ShopLocal from Tribune, McClatchy

Authored by Mark Hefflinger on July 8, 2008 - 8:36am.

McLean, Va. - Gannett (NYSE: GCI), the media company that publishes USA Today, said on Tuesday that it has acquired Chicago-based marketing and database services firm ShopLocal though separate deals with owners Tribune (NYSE: TXA) and McClatchy (NYSE: MNI).

McClatchy said that it sold its 15% stake for $7.9 million, giving the company a total value of $52.5 million. Tribune owned 42.5% of the company.

ShopLocal's services currently help more than 100 retailers, including Target, Best Buy, Home Depot, CVS, Albertsons and Sears, to deliver interactive promotions to shoppers through the Internet, mobile phones and other digital environments.

Gannett said that ShopLocal will work in conjunction with its PointRoll rich media business to create online and in-store ads for retail advertisers.

The companies remain partners with Gannett in a number of ventures, including CareerBuilder, Classified Ventures and Topix.net.

Tribune and Gannett also jointly own Metromix, a national network of local entertainment websites, and are partners in quadrantOne, an online advertising venture.