New York - Internet radio advertising marketplace TargetSpot announced on Wednesday that it has acquired Ronning Lipset Radio, an online radio ad network.

Financial terms of the transaction were not disclosed.

The combined company said it will have the largest reach of any online audio advertising network, comprising more than 1,000 stations operated by network partners such as CBS Radio, Entercom, Yahoo, AOL and Live 365 -- which reach a combined more than six million listeners weekly.

Ronning Lipset Radio's two cofounders and managing partners, Eric Ronning and Andy Lipset, will join TargetSpot serving as co-presidents of sales.

"With TargetSpot's technology and Ronning Lipset's sales expertise, we look forward to providing unprecedented solutions for advertisers and the strongest monetization possible for internet radio businesses," said TargetSpot CEO Doug Perlson.

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