Newspapers buy Topix.net

While AFP is busy suing Google News, other media companies just got wise to the power of aggregation and bought Google News' competitor with a local twist, Topix.net.

CNET:

News publishers Gannett, Knight-Ridder and Tribune Company have acquired controlling interest in the news aggregation site Topix.net, the latest dot-com target of traditional media outlets.

Financial terms were not disclosed, but each news network bought a 25 percent stake in Topix.net, for a total of 75 percent. The Palo Alto, Calif.-based company, with 9 employees, will remain independent and plans to grow "like a start-up" with the funding, CEO and co-founder Rich Skrenta said in an interview.

Topix aggregates news headlines from multiple sources, categorizes them and then lets people subscribe to feeds of topical or local news. The profitable service makes money from showing advertisements related to the categories of information, as well as from licensing fees.

Foreseeable ties with the three publishers' online ventures include cross promotions and ad sales, Skrenta said. For example, job listings for software engineers from Knight-Ridder's Careerbuilder.com could could be used in a topic feed on technology news.

Mar 22, 2005 | E-MAIL | SAVE | PRINT | PERMALINK | DISCUSS(0)

Discussion

0 comments about 'Newspapers buy Topix.net'

Post a comment

Name:

Email Address (will not be published):

Comment on "'Newspapers buy Topix.net'":


Security code:     Enter code to post:

Site Map