Magazine article Editor & Publisher

AdOne Gets Six New Owners : Belo, Media General, Others Take Equity Positions

Magazine article Editor & Publisher

AdOne Gets Six New Owners : Belo, Media General, Others Take Equity Positions

Article excerpt

AdOne LLC of New York has six new major newspaper company investors that have agreed to take equity positions. This brings the online classifieds company's backers to a total of 11 of the newspaper industry's largest concerns.

The new investors are A.H. Belo Corp., Journal Register Co., Lee Enterprises Inc., Media General Inc., Morris Communications Corp., and Pulitizer Inc. The existing investors/owners are Advance Publications, Donrey Media Group, Hearst Corp., MediaNews Group, and E.W. Scripps Co., which collectively acquired AdOne in January as equity partners.

AdOne runs ClassifiedWarehouse.com, an aggregator of newspaper classified ads on the Web. The company claims to be the largest network of employment, automotive, and real estate online classifieds. Currently, over half a million ads run on the network each day.

AdOne is also the premier classifieds partner to Lycos, which gives newspaper classifieds increased visibility. The combined Web properties of Lycos are among the most visited sites on the Web.

"AdOne is becoming a real powerhouse in online classifieds," says Peter M. Zollman, a consultant with Advanced Interactive Media Group.

Brendan Burns, AdOne president and CEO, says the deal brings significant financial and promotional resources to the company. …

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