Jul 8, 2008
Tribune sells stake in ShopLocal
Gannett Co. said Tuesday that, through separate transactions with joint owners Tribune Co. and McClatchy Co., it has acquired full ownership of the retail marketing and database services provider ShopLocal LLC.
The McLean, Va.-based newspaper publishing concern didn't disclose terms of its purchase either of Tribune's 42.5 percent stake in the venture, or of McClatchy's 15 percent.
The two companies remain partners with Gannett in other ventures, including joint holdings in operations such as CareerBuilder, Classified Ventures and Topix.net. Gannett noted that it and closely held Tribune Co. jointly own a network of local entertainment websites known as Metromix.
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