Tribune Company Makes Investment In Journatic
Provider of Hyperlocal Content Will Expand Its Capabilities
CHICAGO, April 23, 2012 /PRNewswire/ -- Tribune Company today announced that it has made a strategic investment in Journatic, LLC, a provider of extensive local content to media companies and advertisers, and that the two companies will have a significant operating relationship going forward. Journatic will use the investment to expand its ability to meet the rapidly growing demand for its services from publishers, advertisers and agencies. Terms of the investment were not disclosed.
Journatic enables publishers and advertisers to better serve their customers through the efficient creation of hyperlocal content, with a focus on "people", "places" and "events". This formula leads to engaging content that is of most interest to local audiences.
"We are thrilled that Tribune has chosen to invest in Journatic," said Brian Timpone, Co-founder and CEO of Journatic. "We look forward to benefiting from Tribune's experience in developing successful ventures within the media space."
"We're excited to partner with Journatic, both as an investor and as a customer," said Dan Kazan, Tribune's Senior Vice President of Investments. "Journatic will expand Tribune's ability to deliver relevant hyperlocal content to our readers, and we believe that many other publishers and advertisers will benefit from its services as well."
TRIBUNE is one of the country's leading multimedia companies, operating businesses in broadcasting, publishing, and interactive. The company's broadcasting group owns or operates 23 television stations, WGN America on national cable and Chicago's WGN-AM. In publishing, Tribune's leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. Popular news and information websites complement Tribune's print and broadcast properties and extend the company's nationwide audience.
About Journatic, LLC is a leading provider of content production services to media companies and marketers. Using a transformative, data-driven approach, Journatic delivers rich, original community news to some of the largest media companies in the U.S. Journatic is also one of the largest producers of sponsored content, fueling the online marketing efforts for thousands of small and medium-sized businesses as well as some national consumer brands. Founded in 2006, Journatic also operates blockshopper.com, an independent publisher of consumer real estate research covering more than 20 major metros, including Chicago, New York, Los Angeles, Houston, Miami, San Francisco, and Dallas. The company is privately-held and headquartered in Chicago.
SOURCE Tribune Company
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