Old media continues to learn new-media tricks. USA TODAY parent Gannett
The move may come as a surprise to Gannett shareholders. The publisher recently completed a cost-shaving reorganization at its flagship national newspaper, and most of its 82 local papers have also tightened their belts.
Why is it spending money on a dot-com purchase? Reviewed.com's network of sites attracts 1 million unique monthly visitors, who seek unbiased reviews on the latest camcorders, televisions, and even headphones. Gannett will be able to beef up the consumer tech component of its publications. The publisher will also be able to give its advertisers a growing range of print and online properties to reach larger audiences.
Why digital? Pull up Gannett's latest quarter, and you'll find a company whose digital revenue rose 10% over the previous year's third quarter, but its publishing revenue took a 5% hit.
New York Times
Digital doesn't just mean porting printed copy to the web. Gannett's digital properties include online marketer PointRoll and a chunky stake in web-based want-ads giant CareerBuilder. Reviewed.com's sites will fit right in.
There's another reason to invest in incremental traffic. Rumors of a turnaround in the print industry may be overblown. New York Times, McClatchy
Is print dead? Share your ironic support in the digital comment box below.
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Longtime Fool contributor Rick Munarriz still subscribes to daily print newspapers like The Miami Herald and Wall Street Journal. However, he is still getting most of his news online. He does not own shares in any of the companies mentioned in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.