BREAKING NEWS & VIEWS
Reports: Gannett to Buy Social Ad Firm Blinq
Monday, August 13, 2012
The purchase would let Gannett package its ad sales across its own extensive Web and mobile properties with reach into the social networks. This will help fuel the digital growth center for Gannett, which reported a 29.3% increase in digital revenues in Q2, despite a 2% decline in print advertising.
According to TechCrunch, the purchase agreement has been signed with the intention of closing by the end of August.
The move by Gannett is another example of publishers acquiring both social media companies and ad technology to extend their product mix. The Washington Post created a social media ad network with its SocialCode subsidiary. Both Meredith and Hearst have been especially active in developing marketing services and digital advertising capabilities. Hearst acquired digital agency iCrossing and Meredith acquired mobile agency The Hyperfactory.
This deal also adds to the roster of social advertising and marketing firms acquired by larger media entities. Most notably Buddy Media sold to Salesforce in recent months. And Google acquired social marketing software developer Wildfire. Buddy Media sold for a whopping $689 million and Wildfire for a considerable $350 million, indicating the high valuations major media companies are putting on playing in the social space.
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