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BREAKING NEWS & VIEWS
Reports: Gannett to Buy Social Ad Firm BlinqMonday, August 13, 2012 The social media ad and marketing space is heating up with deals lately. Adding to the fire are reports that Gannett will be acquiring social media ad software and services firm Blinq Media for a reported sum of up to $92 million. Blinq supplies a  Facebook APi that lets advertisers target and feed ads into the Facebook ecosystem. The company more recently expanded its reach onto LinkedIn, YouTube, and Twitter as well as Facebook on mobile platforms. 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. If you have breaking news to share please contact min’s editors.
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