Eight major media companies, including Gannett, Cox Media Group, Hearst and Washington Post Co., have formed a joint online shopping venture called Find N Save Network. While a number of the companies own TV stations, the digital venture is for newspapers.
Any local daily paper in the country can affiliate with Find N Save, which offers daily deals and coupons, and alerts shoppers to deals via text message. By the end of 2012, it will be in place at an estimated 250 newspapers, say the principals, and 400 by 2013.
Christopher Tippie, the founding executive director of the Yahoo! Newspaper Consortium, will serve as acting CEO.
Other media companies involved include A. H. Belo, Advance Digital, McClatchy Co. and MediaNewsGroup. Discussions are underway with other media companies that have expressed interest in joining the venture.
"This initiative provides advertisers a unique opportunity to reach consumers through a simplified and standardized advertising platform," says Tippie. "Advertisers can target audiences across participating local newspaper markets through digital display ads or with digital circulars."