Nexstar Broadcasting Group announced that it has acquired
the assets of Internet technology provider GoLocal.Biz.
Though financial terms were not disclosed, the
acquisition of GoLocal.Biz, which provides local business directory, coupon,
movie and entertainment listings to all 35 of Nexstar’s community portal web sites
and to other U.S. local market clients, is expected to be immediately accretive
to Nexstar’s operating results.
Based in St. George, Utah, GoLocal.biz was founded by
Nick Schulz, Dave May and Brian Green in 2007. GoLocal.Biz will operate as part
of Nexstar’s e-Media, community portal and technology operations and will
report to Nexstar EVP and Co-COO Brian Jones.
GoLocal.biz is an Internet technology provider and
marketing services company offering targeted online local business
listings, advertising and promotion solutions,
embedded video, images, map, contact information, local advertiser web
links and other vital information to local consumers,” said Perry A. Sook,
president and chief executive officer, Nexstar Broadcasting Group.
The acquisition creates an entirely new revenue stream
for Nexstar as we intend to expand the distribution and syndication of the
GoLocal.biz platform to other online publishers in television and radio markets
not served by Nexstar.
Since its launch in 2006, Nexstar has recorded eighteen
consecutive quarters of revenue growth from its e-Media community web portal
strategy, and we are on track to deliver double- digit e-Media growth in 2011
based on our expanding base of revenue applications and the further penetration
of our mobile marketing and video initiatives which will also expand as a
result of the acquisition of the GoLocal.biz platform,” Sook added.
The GoLocal.Biz platform has proven to be an excellent
complement to Nexstar’s community portal platform. By joining forces with
Nexstar, we will have the necessary resources to expand to additional local
markets while enabling Nexstar to further increase its audience, content,
engagement and revenue,”said Nick Schulz, general manager, GoLocal.Biz.
By Telecomlead.com Team