NEW YORK In the latest example of traditional media players allying in the face of shrinking print fortunes, four companies have formed an online sales organization to sell national advertising across all of their Web sites.
The network, called quadrantOne, will include the 175 newspaper and TV Web sites of its four partners Gannett Co., Hearst Corp., the New York Times Co. and Tribune Co. The network will reach more than 50 million monthly unique visitors in 27 of the top 30 markets, including New York, Los Angeles and Chicago, according to the network, citing Nielsen Online figures.
Dana Hayes, who is interim CEO of quadrantOne as well as svp, sales, Tribune Interactive, said in a statement that the four companies agreed to dedicate ad inventory to the network, enabling advertisers to place ads across many local Web sites with a single buy. By teaming up, the four hope to better compete with national portals for online advertising by serving up online audiences of local and national newspaper and broadcast sites.
“By aggregating the online audiences of quadrantOne’s participating media companies, large national advertisers can immediately access tens of millions of unique visitors in the country’s top markets,” Hayes said.
The alliance marks the latest example of traditional media eschewing old rivalries and banding together to build scale online as readers and advertisers flee to the Internet and print ad revenue and circulation contracts.
Publishers have been striking deals with companies like CareerBuilder and Monster to help them retain their classified business, which has been shifting out of print and to online. In 2006, seven newspaper chains, including MediaNews Group and Belo Corp., announced a wide-ranging partnership with Yahoo to share content, advertising and technology; the alliance has since expanded to 12 newspaper companies.