Nexstar Acquires Web Outfit GoLocal.biz
Station group seeks to boost local online revenue through purchase of partner
By Michael Malone -- Broadcasting & Cable, 7/14/2011 10:06:09 AM
Terms of the deal were not disclosed. Nexstar said the acquisition is expected to be "immediately accretive" to the group's operating results.
GoLocal.biz was founded by Nick Schulz, Dave May and Brian Green in 2007. It will operate as part of Nexstar's e-Media, community portal and technology operations and will be overseen by Nexstar EVP/co-COO Brian Jones.
"The acquisition creates an entirely new revenue stream for Nexstar as we intend to expand the distribution and syndication of the GoLocal.biz platform to other online publishers in television and radio markets not served by Nexstar," said Nexstar President/CEO Perry Sook. "We are on track to deliver double-digit e-Media growth in 2011 based on our expanding base of revenue applications and the further penetration of our mobile marketing and video initiatives, which will also expand as a result of the acquisition of the GoLocal.biz platform."
GoLocal.Biz General Manager Nick Schulz called the Utah-based tech firm "an excellent complement" to Nexstar's local digital business. "By joining forces with Nexstar, we will have the necessary resources to expand to additional local markets while enabling Nexstar to further increase its audience, content, engagement and revenue," he added.
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