Media General announces purchase of Richmond.com
- October 31, 2008
RICHMOND, Va. – Media General (NYSE: MEG) announced today that it has purchased Richmond.com, an award winning local news and entertainment portal, from TWG Portals, LLC of Richmond. Terms were not disclosed.
Richmond.com has approximately 2.7 million monthly page views and partnerships with a number of Richmond area businesses and organizations. This includes the Retail Merchants Association, Central Virginia Regional Multiple Listing Service, Greater Richmond Chamber of Commerce, the Greater Richmond Partnership of Virginia and the Richmond Metropolitan Convention and Visitors Bureau. The Web site currently has more than 120,000 unique visitors per month who use its local search, tools and content to seek, explore and find all things Richmond. According to Scarborough Research, Richmond.com has an 8.8 percent share of the Richmond online audience.
“We’re thrilled to add the valued Richmond.com brand to our local, multimedia portfolio,” said Kirk Read, president of Media General’s Interactive Media Division. “The Web site and organization have made Richmond an easier place to discover. And they’ve been smart and creative in how they connect local advertisers and consumers in meaningful ways. We look forward to fueling Richmond.com’s valuable products, services and strategic relationships with our resources and experience.”
John Whitlock, chairman of The Whitlock Group and principal owner of Richmond.com, said, “We have achieved our goal at Richmond.com to be an innovative and collaborative champion of the Richmond region. Our partners, customers and staff have worked together over the past eight years to create an outstanding online resource that highlights all the best Richmond has to offer. I am excited about Media General’s commitment and ability to take it to the next level. I am sure the best is yet to come.”
About Media General
Media General is a leading provider of local news, information and entertainment over multiple media platforms. The company serves markets primarily in the Southeastern United States. Media General publishes 24 daily newspapers, including The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal; and community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; plus approximately 275 weekly newspapers and other targeted publications. The company owns and operates 19 network-affiliated television stations that reach approximately 30 percent of the television households in the Southeast and nearly 9 percent of those in the United States. The company’s interactive media operations include Web sites and portals that are associated with each of its newspapers and television stations as well as with many specialty publications, and three growing interactive advertising services companies, Blockdot, Inc., DealTaker.com. and NetInformer.