US: three large publishers buy 75% of web news monitor

Posted by John Burke on March 23, 2005 at 5:52 PM

The New York Times reports that three of the largest newspaper publishers in the US, Gannett Company, Knight-Ridder Inc, and the Tribune Company are collaborating to buy a percentage of Topix.net. Topix.net is a Web site based in California that monitors over 10,000 online media news and government sources. The specific price of the acquisition has not yet been disclosed, but each publisher will own 25 % of the company with Topix.net itself retaining the remaining quarter. Though the site already keeps tabs on news from the three publishers, the recent acquisition will allow the company to better attract advertisers. In return, the newspapers’ websites will get more fine-tuned technology and more customized ads. Chief executive and a co-founder of Topix.net Rich Skrenta explained that his company’s technology can make ads more profitable by placing relevant adds next to articles. Following other purchases in the industry, including that of MarketWatch by Dow Jones & Company and that of About.com by The New York Times Company, this acquisition marks another attempt by publishers to broaden their reach and profit from online advertising. Rich Skrenta will be a speaker at the 12th World Editors Forum in June.