Postmedia Network Reports Fourth Quarter and Full Year Results
Postmedia Network Reports Fourth Quarter and Full Year Results
*Progress on the digital first strategy delivers 2.1% audience growth with digital revenue up 8.2% in the quarter and up 7.3% for the year. Operating profit before amortization, restructuring and other items* is up 12.5% in the quarter and up 5.3% for the year. Continued progress on cost reduction and debt repayment.*
Management’s Discussion and Analysis
Consolidated Financial Statements
Q4 F11 Investor and Analyst Conference Call
October 28, 2011 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or “the Company”) today released financial information for the fourth quarter and full year ended August 31, 2011.
*Important Information* *On July 13, 2010 Postmedia, through a wholly owned subsidiary, acquired substantially all of the assets, including all of the outstanding shares of National Post Inc. (“National Post”), and assumed certain liabilities of Canwest Limited Partnership (“Canwest LP” or “CLP”). All references to financial results for the three months and year ended August 31, 2010 and any comparisons in this release are references and comparisons to the combined financial results of Canwest LP, the predecessor company, for periods prior to July 13, 2010 and Postmedia for the period from July 13, 2010 to August 31, 2010. The combined financial results for the three months and year ended August 31, 2010 include a period during which the predecessor company, and not the Company, owned the assets underlying the business of the Company. Also, the financial statements of the predecessor are that of another entity and the Company is not a continuation of the predecessor. The combined financial information for the three months and year ended August 31, 2010 does not represent and is not purported to represent the results that would have been achieved had Postmedia owned the assets of Canwest LP and shares of National Post for the entire fiscal year. The prior year financial results are not comparable to our financial information. Readers are cautioned that the prior year financial results are not indicative of the future financial condition, results of operations, cash flows and future development our business.*
*Fourth Quarter Operating Results* Revenue for the quarter ended August 31, 2011 totaled $230.3 million, a decrease of $11.0 million relative to the same period in the prior year. This decline was primarily due to a decrease in print advertising revenue of $8.2 million (down 5.3%). Print circulation revenue declined $1.5 million (down 2.5%) and other revenue declined $2.9 million due to the loss of a commercial print contract in the first quarter of the current fiscal year. These losses were partially offset by growth in digital revenue which increased 8.2% or $1.7 million relative to the same period in the prior year.
Operating expenses excluding amortization, restructuring of operations and other items for the quarter ended August 31, 2011 declined $14.8 million or 7.0% relative to the same period in the prior year. This decrease was largely due to cost savings achieved through various restructuring initiatives implemented since completing the purchase of the Canwest LP assets on July 13, 2010.
For the quarter ended August 31, 2011, operating profit before amortization, restructuring and other items (see “Non-GAAP Financial Measures”) was $34.0 million, an increase of $3.8 million, or 12.5% relative to the same period in the prior year.
Operating income for the quarter ended August 31, 2011 increased $11.2 million relative to the prior year due to decreases in restructuring of operations and other items of $7.8 million. The restructuring of operations and other items decreased in the quarter ended August 31, 2011 as the restructuring initiatives were substantially completed in prior periods.
The net loss in the quarter was $2.3 million compared to a net loss of $44.6 million related to the period from July 13, 2010 to August 31, 2010, which was the period from the date of acquisition to the end of the prior fiscal year.
*Full Year Operating Results* Revenue for the year ended August 31, 2011 was $1.0 billion, a decrease of $33.4 million relative to the same period in the prior year. Print advertising revenue declined $22.0 million (a decrease of 3.2%), print circulation revenue declined $6.8 million (a decrease of 2.8%) and other revenue declined $10.6 million. The decline in other revenue was due to the loss of a commercial print contract in the first quarter of the current fiscal year. These losses were partially offset by growth in digital revenue, which increased 7.3% or $6.1 million relative to the same period in the prior year.
Operating expenses excluding amortization, restructuring of operations and other items declined $43.4 million or 5.0% during the fiscal year. This reduction more than offset a revenue decline of 3.2%, resulting in an increase in operating profit before amortization, restructuring and other items of $10.1 million, or 5.3% relative to the same period in the prior year.
Operating income declined $45.5 million relative to the prior year due to increases in amortization of $26.1 million and increases in restructuring of operations and other items of $29.4 million. The increase in amortization was due to the higher carrying value of assets resulting from the fair values ascribed on the acquisition of the Canwest LP assets.
The net loss for the year ended August 31, 2011 was $12.9 million primarily due to restructuring of operations and other items and a loss on debt prepayment. The net loss for the period from July 13, 2010 to August 31, 2010 was $44.6 million.
*Restructuring of Operations and Other Items* For the quarter ended August 31, 2011, expenses related to restructuring of operations and other items totaled $2.9 million ($42.8 million for the year ended August 31, 2011). In total, restructuring initiatives implemented to the end of August 2011 are expected to yield net annualized cost savings in excess of $50 million. See “Forward-Looking Information”.
*Debt Repayment* For the quarter ended August 31, 2011, Postmedia made total debt repayments of $8.0 million (US$8.2 million) including an optional principal repayment of US$6.0 million related to its US$ term loan. After giving effect to these payments, outstanding long term debt at August 31, 2011 consisted of US$340.0 million under our term loan credit facilities and US$275 million of 12.5% senior secured notes.
*Transaction with Glacier Media Inc.* On October 18, 2011, the Company announced that it had entered into a definitive agreement with affiliates of Glacier Media Inc. to sell daily newspapers the Times Colonist, Nanaimo Daily News and Alberni Valley Times and 20 British-Columbia based community publications for gross proceeds of $86.5 million, the net proceeds of which are to be used for debt repayment. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close on or about November 30, 2011.
*Management Commentary* “In our Company’s first full year of operation we have seen many milestones reached, in spite of challenging economic pressures,” said Paul Godfrey, President and Chief Executive Officer. “In our second year, we must accelerate the growth of our digital first strategy and explore new ways to embrace the transformation critical to our success.”
Note: All dollar amounts are expressed in Canadian dollars unless otherwise specified.
** Operating Profit before amortization, restructuring and other items is a non-GAAP financial measure. Please see “Non-GAAP Financial Measures” section of this press release.* *Additional Information* Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website at www.postmedia.com/investors/financial-reports, on SEDAR at www.sedar.com or on the website maintained by the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.
*About Postmedia Network Canada Corp.* Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is the holding company that owns Postmedia Network Inc., the largest publisher by circulation of paid English-language daily newspapers in Canada, representing some of the country’s oldest and best known media brands. Reaching millions of Canadians every week, Postmedia engages readers and offers advertisers and marketers integrated solutions to effectively reach target audiences through a variety of print, online, digital, and mobile platforms.
*Non-GAAP Financial Measures* This press release references “operating profit before amortization, restructuring and other items” which is a non-GAAP financial measure. Postmedia believes such measures are beneficial from the perspective of assessing the Company’s financial performance. However, non-GAAP financial measures do not have any standard definition prescribed under GAAP and as such may not be comparable to similar measures used by other companies. For a reconciliation of these non-GAAP measures to the most closely comparable GAAP measures, see “Reconciliation of Non-GAAP Financial Measures” contained in the management’s discussion and analysis for the year ended August 31, 2011 which can be found on the Company’s website at www.postmedia.com, on SEDAR at www.sedar.com or on the SEC’s website at www.sec.gov. *Forward-Looking Information* This press release may include information that is “forward-looking information” under applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information in this press release includes statements relating to annualized cost savings, our digital first strategy, proposed debt repayment and future revenue generating opportunities. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others, competition from other newspapers and alternative forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the continuation of current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labor disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our management’s discussion and analysis for the year ended August 31, 2011. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.
LoopNet, Inc. Announces Third Quarter 2011 Financial Results
LoopNet, Inc. Announces Third Quarter 2011 Financial Results
*– Revenue growth continues, increases 12% year over year – – Adjusted EBITDA margins expand to 35% – – Unique paying subscribers approach 95,000 – – Record profile views –*
SAN FRANCISCO–(BUSINESS WIRE)– LoopNet, Inc. (NASDAQ:LOOP
LoopNet’s revenue for the third quarter of 2011 was $22.2 million, compared to $21.6 million in the second quarter of 2011, and $19.8 million in the third quarter of 2010. Net income applicable to common stockholders for the third quarter of 2011 was $0.9 million or $0.02 per diluted share, compared to $2.7 million or $0.06 per diluted share in the third quarter of 2010. Net income applicable to common stockholders for the third quarter of 2011 included acquisition related costs of $0.05 per diluted share. Non-GAAP net income, which excludes stock-based compensation, acquisition related costs and amortization of acquired intangible assets, for the third quarter of 2011 was $5.2 million or $0.12 per diluted share, compared to $4.4 million or $0.11 per diluted share in the third quarter of 2010. The effective tax rate for the third quarter of 2011 was 24.1% compared to 34.8% in the third quarter of 2010.
LoopNet’s Adjusted EBITDA (earnings before net interest and other income (expense), income taxes, depreciation, amortization, stock-based compensation and acquisition related costs) for the third quarter of 2011 was $7.7 million, compared to $7.4 million in the third quarter of 2010.
*Key operating metrics and business highlights from the third quarter of 2011 include:*
- Unique paying subscribers to one or more of LoopNet’s commercial real estate related services was 94,793, as of the end of the quarter; – Average monthly price paid by the company’s unique subscribers was $60.01 during the quarter; – LoopNet Premium Members were 73,283, as of the end of the quarter; – Average monthly price of LoopNet Premium Membership was $66.34 during the quarter; – Total commercial real estate listings active on the LoopNet marketplace were 824,761, as of the end of the quarter; – Total profile views of listings on the LoopNet marketplace were 84.8 million during the quarter; – LoopNet Registered Members, which includes Basic and Premium Members, were 5,241,489, as of the end of the quarter; and, – Average monthly unique visitors to LoopNet owned websites during the quarter was approximately 3.0 million per month, according to comScore. LoopNet owned websites include LoopNet.com, CityFeet.com, LandandFarm.com, LandsofAmercia.com, BizQuest.com and BizBuySell.com.
*Balance Sheet and Liquidity*
As of September 30, 2011, LoopNet had $116.6 million of cash, cash equivalents and short-term investments and no debt.
*Pending Merger Transaction*
As previously announced, on June 30, 2011, CoStar and LoopNet each received a Request for Additional Information (commonly referred to as a “second request”) from the U.S. Federal Trade Commission (“FTC”) with respect to the proposed merger of Lonestar Acquisition Sub, Inc., a wholly-owned subsidiary of CoStar, and LoopNet originally announced on April 27, 2011 (“the merger”). CoStar and LoopNet have been working cooperatively with the FTC in connection with its review and expect to certify substantial compliance with the second request shortly. At the FTC’s request, CoStar and LoopNet have agreed to extend the waiting period imposed by the Hart-Scott-Rodino Act (the “HSR Act”) from 30 to 60 days after the date of substantial compliance with the second request unless that period is extended voluntarily by the parties or terminated sooner by the FTC. While the parties remain hopeful that the FTC will complete its review in a time frame that would permit the merger to close by the end of 2011, the current timing is such that it is quite possible that the merger may not close by such time. Completion of the merger remains subject to the expiration or termination of the waiting period under the HSR Act and other customary closing conditions.
*Use of Non-GAAP Financial Measures*
This press release includes discussions of Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share, which are non-GAAP financial measures provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The term “Adjusted EBITDA” refers to a financial measure that we define as earnings before net interest and other income (expense), income taxes, depreciation, amortization, stock-based compensation, litigation related recoveries and acquisition related costs. The term “non-GAAP net income” refers to a financial measure that we define as net income before stock-based compensation, litigation related recoveries, acquisition related costs and amortization of acquired intangible assets. Non-GAAP net income is also provided on a per share basis, using shares outstanding at the relevant period of measurement. Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share are not substitutes for measures determined in accordance with GAAP, and may not be comparable to Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share as reported by other companies. We believe Adjusted EBITDA to be relevant and useful information to our investors as this measure is an integral part of our internal management reporting and planning process and is the primary measure used by our management to evaluate the operating performance of our business. The components of Adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and upon which we evaluate their performance, and we also use Adjusted EBITDA for planning purposes and in presentations to our board of directors. We believe non-GAAP net income and non-GAAP net income per share to be relevant and useful information to our investors as they provide meaningful insight into the Company’s performance while excluding infrequent and non-recurring items that may not be considered directly related to our on-going business operations. We believe that non-GAAP net income and non-GAAP net income per share are also used by companies and investors to evaluate comparable performance in the online marketplace and platform industry. We also believe that Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share allow for a more accurate comparison of our operating results over historical periods. A limitation of Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share is that they do not include all items that impact our net income for the period. Management compensates for this limitation by also relying on the comparable GAAP financial measure of net income, which includes the items that are excluded from Adjusted EBITDA, non-GAAP net income and non-GAAP net income per share. Management believes that these non-GAAP measures should be considered as a complement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. A reconciliation of these non-GAAP measures to GAAP is provided in the attached tables.
*About LoopNet, Inc.*
LoopNet operates the most heavily trafficked commercial real estate marketplace online with more than 5 million registered members and more than 2 million unique monthly visitors, as reported by Google Analytics.
The LoopNet marketplace covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale. LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Cassidy Turley, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, NAI Global, Newmark Knight Frank, ProLogis, The Shopping Center Group and Sperry Van Ness.
*Forward Looking Statements*
This release contains forward-looking statements regarding our financial results and the Merger. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, the risk that LoopNet and CoStar will be unable to comply promptly with the request for additional information received from the Federal Trade Commission on June 30, 2011 and discussed in LoopNet’s Current Reports on Form 8-K filed with the SEC on July 1, 2011; the possibility that the Merger does not close, including, but not limited to, due to the failure to obtain governmental clearances or approvals; the risk of business disruption relating to the Merger; economic events or trends in the commercial real estate market or in general, the effects of recent economic and consumer confidence trends on global and domestic financial markets, including credit available to real estate purchasers, our ability to continue to attract and retain new registered members, convert registered members into premium members and retain such premium members, seasonality, our ability to manage our growth, our ability to successfully integrate the technologies, operations and personnel of acquired businesses in a timely manner, our ability to obtain the expected strategic and financial benefits from acquisitions, our ability to introduce new or upgraded products or services and customer acceptance of such services and our ability to obtain or retain listings from commercial real estate brokers, agents and property owners. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward looking statement are contained in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and other SEC filings made by us. Copies of filings made by us with the SEC are available on the SEC’s website or at http://investor.loopnet.com/sec.cfm
42 Percent of Home Buyers are Unrealistic About Home Value Appreciation
News Release Issued: October 28, 2011 8:00 AM EDT 42 Percent of Home Buyers are Unrealistic About Home Value Appreciation While Most Home Buyers Understand How to Buy a Home, Expectations for Homeownership are Out of Line with Reality, According to Zillow® Survey of Home Buyers
SEATTLE, Oct. 28, 2011 /PRNewswire/ — Despite widespread volatility within the housing market and five consecutive years of home value declines, more than two in five (42 percent) of polled prospective home buyers believe home values typically appreciate by 7 percent a year, according to a recent survey by leading real estate information marketplace Zillow (NASDAQ: Z).
This is an unrealistic expectation as, historically, home values in a normal market tend to appreciate by 2-5 percent a year. (1)
Zillow, with Ipsos®, surveyed prospective home buyers (2), asking basic questions about the home buying process.
Despite the unrealistic expectations about home value appreciation, prospective home buyer respondents seem fairly knowledgeable about the home buying process, answering questions correctly more than half the time (65 percent). However, several important parts of the process confused them. Two in five (41 percent) buyers think they are required to buy private mortgage insurance (PMI) regardless of the amount of their down payment. In fact, lenders typically require PMI only when buyers are putting down less than 20 percent of the home’s purchase price.
Additionally, more than half of prospective home buyers who were polled confuse appraisals and inspections. Fifty-six percent said the purpose of an appraisal was to determine if the home is in good condition, when in fact that is the purpose of an inspection.
“It’s troubling that we’re still in the midst of one of the worst housing recessions in history, and yet prospective buyers continue to have such high expectations for home value appreciation,” said Dr. Stan Humphries, chief economist at Zillow. “It’s great that buyers seem to have a fairly solid grasp of the home-buying process, but since this is one of the biggest financial decisions of most people’s lives, it’s even more important that they understand how that investment will appreciate after they sign the papers. Over-estimation of the appreciation potential will lead many to buy real estate when the time in which they plan to live in the house may make renting a better strategy.”
*Additional Survey Findings*
- *More than one-third (37 percent) of prospective home buyer respondents believe buying homeowner’s insurance is optional*. In reality, lenders require that borrowers purchase homeowner’s insurance. This insurance protects the lender. If catastrophe strikes, the mortgage will be repaid from the insurance proceeds. – *Nearly half of polled prospective home buyers in the study do not understand when they will actually own the home they intend to buy.*Forty-seven percent said a prospective buyer owns a home after the purchase contract is signed. The purchase and sales agreement merely kicks off the closing phase, which can be a lengthy process. – *The majority (87 percent) of polled prospective home buyers know that closing costs are negotiable and can vary by bank and lender*. Lender fees, like loan-origination fees, administrative costs and other clerical fees, are typically the most negotiable in the home buying process.
*Interactive Online Quiz and Resources Available*
An online version of the Zillow survey, the “Buyer IQ Quiz,” is available at http://www.zillow.com/mortgage-rates/buyer-iq-quiz/ and contains the correct answers. Following the quiz, participants are given a score and resources to learn more about the home-buying process.
*About Zillow, Inc.*
Zillow (NASDAQ: Z) is the leading real estate
Zillow, Zillow.com and Postlets are registered trademarks of Zillow, Inc.
Ipsos is a registered trademark of Ipsos S.A.
(1)Over the period from 1890 to 2006, the average annual growth in home values was 3.7%. Source: Irrational Exuberance by Robert Shiller (Princeton University Press 2000, Broadway Books 2001, 2nd edition, 2005)
(2) These are some of the findings of an Ipsos poll conducted August 31-September 1, 2011. For the survey, a national sample of 1,012 adults aged 18 and over residing in the U.S. was interviewed via Ipsos’ U.S. online omnibus. Among them, 177 reported that they plan to buy a home within the next 3 years, which qualifies them as “prospective home buyers.” A survey with an unweighted probability sample of 1,012 and a 100% response rate would have an estimated margin of error of* *+/-3.1 percentage points 19 times out of 20, of what the results* *would have been had the entire population of adults in the U.S. been polled. The margin of error for a subgrouping of the survey population of 177 individuals would be +/-7.4. These data were weighted to ensure the sample’s regional and age/gender composition reflects that of the actual U.S. population according to data from the U.S. Census Bureau and to provide results intended to approximate the sample universe. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
SOURCE Zillow, Inc.
GateHouse Media Announces Third Quarter 2011 Results
*GateHouse Media Announces Third Quarter 2011 Results*
*Third Quarter Highlights*
UGC Photos & Activity Streams
Ellington CMS Feature Release: UGC Photos & Activity Streams
Mediaphormedia announced recently a number of new features and enhancements to their market-leading user generated content tools in Ellington CMS. This release includes UGC (user generated content) Photos, Activity Streams, and Activity Stream Email Preferences.
UGC Photos allow users to post photos within comments or blog entries and access their photos on their user profile. It is also be possible for staff members to select user photos for story inlines or to create photo galleries of user submitted photos.
User-generated Photo on User Profile Page.
With these enhancements, it is possible for staff members to select user photos for story inlines or create Photogalleries of user photos. If you are a client, you can check UGC photo details on our support site
Ellington’s social applications allow users to connect with each other on the site by “following” users. The New Activity stream feature will allow users to follow the interests of their friends in a more detailed and streamlined fashion. Users will be able to view an activity stream that details their actions on the site and that of their friends. They can customize email notifications to be alerted for only the actions they are interested in. Clients can review New Activity Stream on the support site
Using Ellington’s upgraded Moderation tools, publishers can closely monitor UGC but still allow users to participate on their sites in a dynamic fashion.
Ellington CMS continues to be a leading force in building tools to drive Community Engagement on the web. Allowing site users to participate in generating content for news sites, is the motivating force behind creating technologies that will give users the ability to publish their own content. This release is part of a series of Community features Ellington continues to develop and innovate around. Stay tuned for more features in the coming months.
Social Media and Voice of the Customer Front and Center at the Text Analytics Summit
*Social Media and Voice of the Customer Front and Center at the Text Analytics Summit* *Text Analytics Summit West*
SAN JOSE, Calif.–(BUSINESS WIRE http://www.businesswire.com/)–Text Analytics Summit West
“Text analytics is booming as a technology that makes sense of social and online information, and as a power-up for enterprise customer-experience, marketing, investigations, commerce, search, BI programs and more”
The Text Analytics Summit is the flagship event of Text Analytics News, and is becoming increasingly important as the text analytics industry figures to pass the $1 billion mark by the end 2011. The event is set to attract more than 150 senior-level executives from a multitude of industries that use or will soon use text analytics in their business practices.
The keynote topics on the conference agenda
Over the past 7 years, this event has established itself as a cornerstone of the text analytics community. All of the major text analytics providers attend each year, but also present are the end users of the technology from a myriad of different industries, including but not limited to: financial services, insurance, legal, consumer electronics, consumer packaged goods, automotive, hospitality, healthcare, travel, and retail. The event provides a proper balance of vendors, consultants, analysts, and end users to create a solid foundation for networking and forming healthy business relationships.
“Text analytics is booming as a technology that makes sense of social and online information, and as a power-up for enterprise customer-experience, marketing, investigations, commerce, search, BI programs and more,” says conference chairman, Seth Grimes. “The Text Analytics Summit remains the place to learn and network, this time boosted by the special energy and innovation found only in Silicon Valley.”
The goal of Text Analytics Summit West is to unlock the power of text analytics to leverage new and profitable business opportunities. Top executives from major organizations like Cisco, eBay, Radian6, EMC Corporation, J.D. Power & Associates, IBM, and Attensity will be delivering presentations at the Summit, covering a wide range of issues concerning the text analytics sector.
“The text analytics industry is growing exponentially, and shows no signs of slowing down. The Text Analytics Summit wants to grow along with the industry, so that we can continue to offer a one-of-kind forum designed to help analytics professionals play a key role in the future of the text analytics industry,” says Ezra Steinberg, the Chief Editor of Text Analytics News.
Text Analytics Summit West is taking place on November 10-11 at the Convention Plaza Hotel in San Jose, CA. For full event information, please visit the website at www.textanalyticsnews.com
If you would like more information about this event, please contact Doug Lavender at (201) 204-1819 or dlavender@textanalyticsnews.com.
Q3 NADAguides Brand Share Report Shows Domestics Regaining What Was Lost in The Second Quarter
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*Third Quarter NADAguides Brand Share Report Shows Domestics Regaining What Was Lost in The Second Quarter*
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*Chevrolet Edges Out Ford With The Highest Consumer Brand Share NADAguides During Third Quarter of 2011*
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*COSTA MESA, Calif. – October 26, 2011*****
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*News Highlights*
**· **NADAguides http://www.nadaguides.com, the most comprehensive vehicle information provider on the Internet today, announces its Brand Share Report for the third quarter of 2011 – revealing that domestic brands saw the only increase in consumer interest on NADAguides.com during the third quarter of 2011, increasing its overall share of consumer interest by more than ten percent. ****
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**· **Helping domestics achieve this increase was Chevrolet, which topped brand consumer interest on NADAguides during quarter three. The analysts at NADAguides attribute this increase of Chevrolet brand interest to the Cruze, which has been gaining momentum month over month throughout the year, as well as the Chevrolet Silverado which has consistently remained near the top in terms of brand share and interest on NADAguides.com throughout the year. Based on sales numbers reported by Automotive News, the Chevrolet Cruze was the fifth most purchased car through the first nine months of 2011 and the Chevrolet Silverado was the second most purchased light vehicle and light truck.****
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**· **During the second quarter, MINI and Fiat both saw the largest growth in brand share (increasing by 206 and 168 percent, respectively). During the third quarter, Fiat continued its surge and saw the largest increase in overall brand share, increasing by more than 68 percent, while consumer interest for MINI fell dramatically with one of the largest decreases in brand share during the third quarter as compared to the second quarter, dropping nearly 54 percent. As a result European brands saw the biggest decrease in consumer interest on NADAguides.com during the third quarter, dropping by 14.9 percent as compared to the second quarter 2011.*** *
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**· **Chevrolet edged out Ford as the most researched brand on NADAguides, moving Ford to the second position, while Toyota, Nissan and Honda maintained the third, fourth and fifth positions, respectively. Consumer interest for Nissan actually decreased by more than 25 percent but was able to maintain its overall position as the fourth most researched brand on NADAguides.com. Chevrolet owned 14.5 percent of overall consumer interest on NADAguides.com during the third quarter of 2011, Ford 13.3 percent, Toyota 9.9 percent, Nissan 6.29 percent and Honda 6.1 percent. *** *
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**· **During the third quarter of 2011 domestics further cemented their position as the leader both in sales and in consumer interest on NADAguides.com. Interest for domestics actually increased by 10.2 percent while sales increased from 46.8 percent to 47.3 percent year-to-date during quarter three – with the large jump in consumer brand interest during the third quarter, it may be an indication that sales for domestics will continue in an upward trend for the remainder of the year. ****
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**· **Both consumer interest and sales for Japanese brands actually decreased in the third quarter with sales showing a decrease of 1.7 percent and consumer brand interest dropping 2.5 percent. Analysts continue to attribute some of these decreases for the Japanese brands to the production circumstances that followed the earthquake and tsunami in Japan earlier this year.****
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**· **Consumer brand interest on NADAguides.com for European and Korean brands fell dramatically, 14.9 and 7.7 percent, respectively. However, sales for both continued to remain relatively similar – both at nine percent. Despite promising increases in consumer interest during the second quarter, those inquiries did not result in sales during the third quarter. **
*Key Quotes*
**· ***Troy Snyder, Director of Product Development, NADAguides: *“We continue to see the ‘Big Three’ putting out great vehicles that meet consumer demands at all price points and with many more options at high MPG ratings. Trends are expected to shift again as the year comes to a close and Japanese manufacturers are all nearly back to capacity production.”**
*About the NADAguides Brand Share Report*
The quarterly NADAguides Brand Share Report is a collection of data points from hundreds of thousands of research behaviors and actions of in-market, new-car shoppers on NADAguides.com. NADAguides’ Brand Share Report is an ongoing study, tracking and trending consumer research patterns, purchase intents and market and data interests within automotive brands.**
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*About NADAguides*
NADAguides (http://www.nadaguides.com) is the largest publisher of vehicle pricing and information for new and used cars, classic cars, motorcycles, boats, RVs, and manufactured homes. NADAguides offers in-depth shopping and research tools in addition to the most market-reflective pricing available. The company also produces software, raw data, web services, web-syndicated products and print guidebooks.****
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*Resources*
**· **NADAguides http://www.nadaguides.com ****
**· **NADAguides on Twitter http://twitter.com/NADAguides ****
**· **NADAguides on Facebook
**· **NADAguides on YouTube http://www.youtube.com/user/NADAguides ****
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*Industries* ****
**· **Automotive****
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Kijiji Canada says “declutter” to sell your home
Research reveals Canadians would like to sell their own home, but lack the selling savvy
*More than half of Canadians believe staging is important when selling a home, but haven’t actually done it*
TORONTO, Oct. 26, 2011 /CNW/ – For sale by owner (FSBO) is the new “it” concept when it comes to the real estate market, according to new research commissioned by Kijiji Canada. The study revealed that 61 per cent of Canadians would consider selling their home on their own if it was easy and more affordable than using a real estate agent and, in fact, 22 per cent of those who have sold a home in the past have sold a home on their own at least once.
But while the FSBO trend may be trending up, many homeowners may not be prepared to do what it takes to get the best price when going it alone in the real estate market. Important pre-sale steps to take include de-cluttering, renovating, and investing in curb appeal.
According to the new research:
- Nearly three-quarters (72 per cent) of those who believe decluttering is important didn’t actually purge their home of many items before selling. – A large majority (86 per cent) of those who believe conducting renovations is important before selling a home didn’t do any when selling their home. – A large majority (86 per cent) believe staging is important, but 61% of those who think it’s important didn’t do it.
Janette Ewen, staging specialist and Kijiji Agent, says getting important pre-sale preparations done when selling a home can often be a challenge simply due to personal finances and time restraints: “Pre-sale home improvements usually come down to time and money. The beauty of having online resources like Kijiji is that you can save time *and *money by shopping for unique, stylish and gently used items to beautify your home, from the comfort of your home.”
*Top tips to beautify your digs*
The survey also found that the majority (62 per cent) of Canadians are doing minimal maintenance to prepare their home. But when it comes to the sale itself, not everyone feels they are getting a fair price (21 per cent), often because they didn’t take the time to declutter or invest enough in staging. With this in mind, Kijiji’s Agent suggests following some simple tips:
1. *De-clutter your domicile:** *De-personalize your home before showing it, and the first step in this process is to de-clutter. Moving is an excellent time to do this anyway, as you really don’t want to be stuck transporting more than you have to. Stop, take stock of what you *really*use, and get rid of what you don’t need. You can make some money to offset any moving costs by selling unwanted items on Kijiji.ca
*Real estate by the numbers*
Who’s the savviest at selling their own home? What community has bought and sold the most homes? When it comes to real estate know-how, the survey also reveals interesting differences from coast-to-coast*:*
- British Columbians are savvy salespeople. Sellers in BC have sold the most homes on their own than any other province, at 31 per cent. The province also has the highest percentage reporting that they plan to sell within the next year, at 17 per cent. – Staging separation. When it comes to self-staging, sellers in Alberta have done in the most at 39 per cent, versus their Saskatchewan neighbours, who self-stage the least at 14 per cent. – People who purge. Sellers in Ontario seem to have the least trouble getting rid of items before selling their homes, at 37 per cent, while Quebeckers have the hardest time, at 19 per cent. – Handiest hamlet. Who renovates the most in preparation for sale? Sellers in Atlantic Canada appear to be the most adept at 20 per cent. – Fair market value for whom? Atlantic Canadians are least happy with what their homes sold for, with 27 per cent of sellers reporting that their home sold for less than market value.
“This research corresponds with what we’re seeing on Kijiji.ca
Whether for tips, staging décor or even for selling homes, Canadians should visit *www.kijiji.ca*, *Facebook.com/Kijiji.ca
*Methodology*
These are some of the findings of an Ipsos Reid poll conducted between October 5th to 7th, 2011, on behalf of Kijiji. For this survey, a sample of 1,027 adult homeowners from Ipsos’ Canadian online panel was interviewed online. Weighting was then employed to balance demographics and political composition to ensure that the sample’s composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points, 19 times out of 20, of what the results would have been had the entire population of homeowners in Canadabeen polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
*About Kijiji Canada*
Kijiji, which means “village” in Swahili, is the number one classifieds site in Canada, connecting nine-million buyers and sellers each month. Kijiji.ca
*For further information, media please contact:*
Amy Dickson Environics Communications on behalf of Kijiji Canada 416-969-2758 adickson@environicspr.com
Gema Rayo Environics Communications on behalf of Kijiji Canada 416-969-2665 grayo@environicspr.com
Nextdoor Launches the First Private Social Network for Neighborhoods
Nextdoor Launches the First Private Social Network for Neighborhoods
*Successful Pilot Program Proves Value of Bringing Back a Sense of Community to the Neighborhood*
*San Francisco, California, October 26, 2011* – Nextdoor (www.nextdoor.com), the first private social network for neighborhoods, announced today the nationwide availability of its free online platform specifically designed to foster neighbor-to-neighbor communication. Starting now, neighborhoods across the country can take advantage of this new type of social networking service to build happier, safer places to call home.
On Nextdoor, neighbors create private websites for their neighborhoods where they can ask questions, get to know one another and exchange local advice and recommendations. Topics of discussion are as varied as local events, school activities, plumber and babysitter recommendations, recent crime activity, upcoming garage sales or even lost pets. Unlike an email listserv or other online group, neighbor posts are organized and archived for future reference.
“We ‘friend’ more people than ever and ‘follow’ strangers we’ve never met, yet we don’t have a good way to communicate with the people who live right next door,” said Nirav Tolia, CEO and Co-founder of Nextdoor. “There are many ways our neighbors can help us, but these days people don’t know their neighbors, or how to contact them. Nextdoor was created to change that.”
Nextdoor was specifically designed to make neighbors feel comfortable sharing information with one another. All members must verify that they live within the neighborhood. Information shared on Nextdoor is password-protected and cannot be accessed by those outside the neighborhood or found on Google or other search engines. And Nextdoor never shares personal information with any third parties.
“Nextdoor is different from other social networking sites because it was built from the ground up to help neighbors come together in a trusted environment,” said Bill Gurley, General Partner of Benchmark Capital and board member of Nextdoor. “We have been blown away by the positive response to Nextdoor and believe it is a natural evolution of social networking that will demonstrate the value of building community to neighborhoods everywhere.”
Nextdoor recently completed a successful pilot program where neighbors in over 200 neighborhoods across 26 states established Nextdoor websites with the goal of creating more connected and safer places to call home. The pilot program clearly proved how neighbors can use Nextdoor to bring back a sense of community to their neighborhood.
*Anne Clauss, Nextdoor member in Hamilton, New York* “Our neighborhood dynamics have improved significantly since we launched Nextdoor – the collaboration between neighbors has showered an unprecedented feeling of community upon us. Nextdoor takes the best of social media, adds a spoonful of intimacy, and envelopes it in a blanket of privacy and comfort.”
*Brent Bamberger, Nextdoor member in Orinda, California* “Since Nextdoor, we finally feel like a neighborhood. Our communication has become more frequent, open and helpful. We’ve seen lost pets get returned in minutes; unwanted ping pong tables finding new homes in a matter of posts; and a heightened sense of security throughout the neighborhood when a recent crime wave hit.”
*Nicole Perkins, Nextdoor member in Woodside, California* “The value of Nextdoor hit close to home when a teenager was diagnosed with meningitis. His parents used Nextdoor to alert everyone in the community to this life-threatening situation and get other kids tested immediately. The ability to broadcast the news through Nextdoor very likely saved other lives.”
Those interested in joining their neighborhood’s Nextdoor website can visit www.nextdoor.com and enter their address. If Nextdoor is available in their area, they can immediately sign up. If a Nextdoor website has not yet been established for their area, active and engaged neighbors are invited to apply to bring Nextdoor to their neighborhood.
*About Nextdoor.com, Inc.* Nextdoor (www.nextdoor.com) is a private social network for the neighborhood. Using Nextdoor’s free online platform, neighbors create private neighborhood websites where members can ask questions, get to know one another and exchange local advice and recommendations. Nextdoor is specifically designed to provide a trusted environment for neighbor-to-neighbor communication. Hundreds of neighborhoods are already using Nextdoor to build happier, safer places to call home.
Based in San Francisco, California, Nextdoor was founded in 2010 by Internet veterans who have spent their careers creating thriving online communities. The company is funded by Benchmark Capital and Shasta Ventures.
USRealty.com Launches New Hybrid Real Estate Company as a Smarter Way to Sell Homes
*USRealty.com Launches New Hybrid Real Estate Company as a Smarter Way to Sell Homes*
NEW YORK, Oct. 25, 2011 — USRealty.com officially launched its website and proven *hybrid *real estate service today, offering home sellers a revolutionary new way to successfully sell their homes and save money. Sellers finally have a choice on how much commission they pay – from 0% commission to *no more* than 3% commission. The new full-service, no-commission real estate service was created to provide a smarter way to bring home sellers and buyers together in today’s distressed residential real estate market nationwide.
“The old way of selling a home and paying 6 percent commission is no longer possible or relevant for many homeowners. The market is distressed and many homeowners are under water,” said Colby Sambrotto, President and CEO, USRealty.com. “Sellers can’t afford to lose an additional 6% in commissions when they sell their homes. At USRealty.com, we’ve created a menu of selling options, as part of an engaging and comprehensive website that allows sellers to choose a plan that works best for them and saves them thousands of dollars. The new hybrid real estate service combines the significant cost savings of a ‘by owner’ sale with the services of a traditional broker model,” added Mr. Sambrotto.
Sellers can choose from an array of selling solutions for their property based on the amount of commission they’re willing to pay, from zero commission to no more than 3%. Sellers using USRealty.com can purchase a six-month package ranging from a zero commission $99 home selling plan to a $399 plan that includes a listing on the local MLS (Multiple Listing Service) and Realtor.com®. There’s even a Free 30-day trial plan. USRealty.com homes will also be listed on many other top real estate websites, including Zillow®, Oodle®, Vast, Facebook Marketplace, and many others. Every USRealty.com home selling plan offers a money-back guarantee, if the property does not sell.
Buyers looking for homes on the site can take advantage of a new, proprietary search technology called PropertyScore™. Buyers can find and rank properties for sale based on their most important criteria including financial data, schools and neighborhood qualities, which are combined to create a “PropertyScore” for each listing. “This totally new search tool goes way beyond the traditional search factors of price and number of bedrooms and baths so buyers can find the perfect home that fits their individual lifestyles. We’ve created a new model for a new market,” added Mr. Sambrotto.
USRealty.com also allows builders, real estate brokers and banks to list properties on the site for free.
“For years, sellers have been paying 6% commissions on the total sale price of their homes,” Sambrotto said. “At a time when many homes are worth less than their original purchase price, tacking on a full 6% commission can further erode a seller’s profit, or worse, compound losses. We’ve created an option that lets the seller decide how much he or she will pay in commissions.”
*About USRealty.com*
USRealty.com is a new hybrid real estate model that enables sellers to have a choice about how to sell their home – selling the home as a “for sale by owner” and paying no commission, or including and attracting a buyer’s agent and paying no more than 3% commission. For buyers, USRealty.com offers a proprietary new search technology called PropertyScore™, so they can quickly find the perfect home that best fits their lifestyle as well as their wallet.
http://www.USRealty.com http://www.usrealty.com/
Traffic to Newspaper Websites Increases 20 Percent in Past Year
*Traffic to Newspaper Websites Increases 20 Percent in Past Year*
Double-Digit Growth in Multiple Categories Demonstrates High Level of Engagement by Newspaper Website Visitors
More than 110 Million Unique Visitors in Q3, Strong Reach in Key Demographics Continues
October 20, 2011, Arlington, VA – Newspaper publishers attracted 20 percent more total visits by adults 18-plus to their websites in September, compared to the same month one year ago. The analysis, performed by comScore for the Newspaper Association of America, also indicates strong performance in other key engagement categories.
In a year-over-year comparison for newspaper websites, average daily visits were up 21 percent, total pages viewed were up 10 percent, total minutes spent were up 11 percent, and unique visitors were up 9 percent. This is the first time NAA has been able to provide an annual comparison since it began using comScore to track Web audience data in September 2010.
“This strong audience growth coincided with the introduction of paywalls of many newspaper companies,” said Caroline Little, NAA president and CEO. “Clearly, consumers place high value upon the content that newspapers create – and they are seeking out newspaper websites to get it. Not only do online platforms deliver reach and engagement, they attract the demographics that advertisers want, which bodes well for the continued growth of this revenue stream.”
The findings also indicate that in the third quarter newspaper websites attracted an average monthly audience of 110.4 million unique visitors ages 18-plus – nearly two-thirds (64 percent) of all adult Internet users.
As publishers continue to invest in their websites, they are also reaching key audiences, including:
- 3-in-4 adults (74 percent) in households earning more than $100,000 – 58 percent of 18-34 year olds, and – 62 percent of Internet users with children at home.
Second-quarter figures released by NAA in September showed that online advertising was up 8 percent from the same period a year ago and accounted for 14 percent of all newspaper advertising dollars through the first half of the year, up from 12 percent for the same period in 2010.
*About NAA* ** *NAA* is a non-profit organization representing nearly 2,000 newspapers and their multiplatform businesses in the United States and Canada. NAA members include daily newspapers, as well as nondailies, other print publications and online products. Headquartered near Washington, D.C., in Arlington, VA, the association focuses on the major issues that affect today’s newspaper industry: public policy / legal matters, advertising revenue growth and audience development across the medium’s broad portfolio of products and digital platforms. Information about NAA and the industry also may be found at www.naa.org.
Knight Foundation adds media technology leaders to its board
*Knight Foundation adds media technology leaders to its board*
*Facebook co-founder Chris Hughes, MIT Media Lab director Joi Ito and Harvard’s John Palfrey join Knight’s board*
*MIAMI *– (October 25, 2011)* – *Knight Foundation today emphasized the importance of technology and media innovation on the delivery of news and information to communities by appointing three of the nation’s most influential new media leaders to its board of trustees.
*Joichi Ito*, the director of MIT’s Media Lab, *John Palfrey*, professor at Harvard Law School and co-director of the Berkman Center for Internet & Society, and *Chris Hughes*, the Facebook co-founder have been elected to join Knight’s board of trustees.
Knight Foundation is the nation’s foremost funder of journalism and media innovation projects.
“We believe that the free flow of information is at the core of the democratic process; you cannot effectively manage a community in a democracy without it,” said Alberto Ibargüen, president of Knight Foundation. He added “The addition of these three seminal thinkers and key actors in the world of media innovation – in the search for how to inform communities in the digital age – is a giant leap forward for Knight. They will challenge and help guide us to an even more entrepreneurial approach to media innovation and engagement of people in communities.”
Joi Ito is an entrepreneur, media investor and former head of Creative Commons. He was appointed director of the MIT Media Lab in the spring of 2011. Business Week named him “one of the 25 most influential people on the web.“ He was an early-stage investor in Internet companies such Twitter, Flickr, and Technorati. More at http://media.mit.edu.
John Palfrey is the author of the several seminal books on the impact of the Internet revolution, including Born Digital: Understanding the First Generation of Digital Natives. An authority on technology and political engagement, he is faculty co-director of the Berkman Center for Internet & Society at Harvard University. As a vice dean of Harvard Law School, he has led major digital initiatives at the Harvard Law School Library. More at http://cyber.law.harvard.edu/people/jpalfrey
Chris Hughes co-founded Facebook while attending Harvard University. He first served as the site’s spokesperson and later helped lead the product and user experience team. In 2007, Hughes joined Barack Obama’s campaign as the Director of Online Organizing where he used social and mobile technology to empower grassroots supporters to self-organize on behalf of the President. Hughes founded Jumo, a tool to help people find high-quality non-profits. In the fall of 2011, Jumo merged with GOOD Magazine where Hughes now serves as a senior advisor. More at http://www.facebook.com/ChrisHughes
The new trustees will complement a board that already includes news media leaders such as Paul Steiger, former managing editor of the Wall Street Journal and currently editor-in-chief of ProPublica, and James Crutchfield, a former publisher of the Akron Beacon Journal. Knight Foundation trustee Rolfe Neill is former editor and publisher of the Charlotte Observer and the foundation’s CEO, Alberto Ibargüen, is a former publisher of the Miami Herald.
*Knight Foundation New Media Impact*
During the last five years, Knight Foundation has invested more than $100 million in a multi-faceted media innovation initiative. Its projects address media innovation on various levels, including national policy, technology, public media and the evolution of the World Wide Web. Programs such as the Knight News Challenge have, to date, spawned hundreds of community media experiments and other projects.
The foundation’s impact on policy includes the sponsorship of the Knight Commission on Information Needs of Communities in a Democracy at the Aspen Institute, co-chaired by Marissa Mayer, Google’s vice president of geographic and local services, and by Theodore Olson, former United States Solicitor General. The Knight Commission (http://www.knightcomm.org) made recommendations to extend broadband access to all Americans, and on media literacy.
The foundation is increasingly seeking partnerships to further the impact of its grant making: Google last year contributed $2 million to Knight’s media innovation efforts. The National Endowment for the Arts (NEA) is currently partnering with the foundation to stimulate new forms of community arts coverage. And the Federal Communications Commission (FCC) credits the foundation as an authority for its Internet policies, with a recent FCC report mentioning Knight 85 times. Knight Foundation plays a key role in Connect to Compete, a new nonprofit broadband adoption initiative announced this month by the FCC and comprised of philanthropic and business leaders.
Knight is a key partner in the Carnegie-Knight Initiative to reform journalism education in the U.S. The initiative operates at 11 leading journalism and communication schools (University of California at Berkeley, Arizona State University, University of Southern California, University of Nebraska, Lincoln, Northwestern University, University of Missouri, University of Texas at Austin, University of North Carolina at Chapel Hill, Syracuse University, University of Maryland and Columbia University – as well as the Shorenstein Center at Harvard).
*About the John S. and James L. Knight Foundation*
Knight Foundation is dedicated to the ideal that democracies thrive when communities are informed and engaged. The foundation supports transformational ideas that engage communities, promote quality journalism and media innovation and foster the arts.
For more on Knight Foundation, go to www.knightfoundation.org.
Journal Communications Reports Third Quarter 2011 Results
October 25, 2011 08:00 AM Eastern Daylight Time
*Journal Communications Reports Third Quarter 2011 Results*
*Third Quarter 2011 Highlights:*
- Revenue of $87.8 million, down 4.4%; Core broadcast revenue, excluding political and issue advertising revenue, up 2.2% – Operating earnings of $8.1 million, down 26.9% – Pre-tax workforce reduction charge of $1.3 million – Sold remaining community newspapers and shoppers in Florida – Diluted EPS of $0.07, or $0.08 excluding workforce reduction charge and gain on sale of remaining Florida operations; down from $0.11 – Repurchased 603,200 class A shares for $2.1 million – Funded debt ratio of 0.75-to-1
MILWAUKEE–(BUSINESS WIRE http://www.businesswire.com/)–Journal Communications, Inc. (NYSE:JRN) today announced results for its third quarter ended September 25, 2011.
*“Effective cost management remains a company-wide priority. We recorded a $1.3 million pre-tax workforce reduction charge to align our expenses in Publishing with lower revenue, while still reducing total company expenses this quarter.”*
“Journal Communications remained focused on growing our local market revenue share in a soft economic environment in the third quarter,” said Steven Smith, Chairman of the Board and Chief Executive Officer of Journal Communications. “While total Broadcast revenue was down, core revenue, excluding political and issue advertising, was up. On the Publishing side, a challenging advertising revenue environment was offset by improved circulation revenue and a solid increase in commercial print and distribution revenue.
“Effective cost management remains a company-wide priority. We recorded a $1.3 million pre-tax workforce reduction charge to align our expenses in Publishing with lower revenue, while still reducing total company expenses this quarter.
“We continue to position Journal Communications for growth in our markets by expanding our relevant local content, investing in interactive media and providing an enhanced value proposition for our advertising customers.”
*Third Quarter 2011 Results*
Note that unless otherwise indicated, all comparisons are to the third quarter ended September 26, 2010.
For the third quarter, revenue of $87.8 million decreased 4.4% compared to $91.8 million. Operating earnings of $8.1 million, which included a $1.3 million pre-tax workforce reduction charge, decreased 26.9% compared to $11.1 million. Net earnings were $4.4 million compared to $6.3 million.
In the third quarter, basic and diluted net earnings per share of class A and B common stock were $0.07 compared to $0.11 in 2010. Excluding an after-tax workforce reduction charge of $0.8 million and an after-tax gain on the sale of the remaining Florida operations of $0.2 million, basic and diluted net earnings per share of class A and B common stock were $0.08.
The operating margin was 9.2% for the third quarter compared to 12.1%. EBITDA (net earnings (loss) excluding the earnings/loss from discontinued operations, net; total other expense, net; provision (benefit) for income taxes; depreciation; amortization; and, if any, non-cash impairment charges) was $14.0 million compared to $17.2 million, a decrease of 18.7%.
*Consolidated and Segment Results *
For the third quarter, total expenses of $79.7 million, which included a $1.3 million pre-tax workforce reduction charge, decreased 1.3% compared to $80.7 million.
*Broadcasting*
For the third quarter, broadcasting revenue decreased 3.2% to $46.9 million compared to $48.5 million. Total broadcast political and issue advertising revenue was $2.2 million compared to $4.7 million. Core broadcast revenue, excluding political and issue advertising revenue, increased 2.2%. Local revenue increased 1.9% due to increases in medical, media and automotive categories. National advertising revenue decreased 4.3% primarily due to a decrease in automotive advertising. Retransmission revenue was $2.2 million compared to $1.7 million. Broadcasting operating earnings of $7.0 million decreased 30.0% compared to $10.0 million, primarily due to reduced political and issue advertising revenue this quarter.
Revenue from television stations for the third quarter decreased 6.8% to $27.9 million compared to $30.0 million. Excluding political and issue advertising revenue of $1.8 million in 2011 and $4.3 million in 2010, revenue from television stations increased 1.6%. Local advertising revenue increased 2.5% primarily due to an increase in retail, restaurants and automotive advertising. National advertising revenue decreased 10.5% primarily due to a decrease in automotive advertising. Operating earnings were $2.9 million compared to $5.5 million, a decrease of 47.4%. Television operating expenses increased 2.3% primarily due to higher employee-related expenses and promotion costs.
For the third quarter, revenue from radio stations increased 2.7% to $19.0 million from $18.5 million. Radio political and issue advertising revenue was $0.4 million in each of 2011 and 2010. Operating earnings from radio stations were $4.1 million compared to $4.5 million, a decrease of 8.6%. Radio operating expenses increased 6.3% primarily due to higher employee-related expenses and promotion costs.
*Publishing*
For the third quarter, publishing revenue decreased 5.9% to $40.9 million compared to $43.4 million, largely due to continued decreases in the retail and classified advertising categories, partially offset by an increase in other revenue. Operating earnings from publishing were $2.8 million, including a $1.3 million pre-tax workforce reduction charge, compared to $3.1 million, a decrease of 8.0%.
Total newsprint and paper expense in publishing was $4.1 million compared to $4.4 million, a 6.5% decrease, primarily due to a reduction in newsprint consumption.
Revenue at the daily newspaper for the third quarter decreased 3.3% to $34.7 million compared to $35.9 million. Retail advertising revenue decreased 3.8%. Classified advertising revenue decreased 18.2% driven primarily by a decrease in the real estate and other categories. Interactive advertising revenue decreased 4.7% to $2.7 million compared to $2.8 million, primarily due to a decrease in retail sponsorships and classified advertising packages. Circulation revenue of $12.4 million increased 1.5% due to price increases that off-set circulation declines. Other revenue, which primarily consists of commercial printing and delivery, of $4.2 million was up 13.3%. Operating earnings from the daily newspaper were $2.3 million, including a $1.3 million pre-tax workforce reduction charge, compared to $2.4 million, a decrease of 2.4%. Daily newspaper operating expenses decreased 3.4%, primarily due to lower employee-related costs.
In the third quarter in two separate transactions, we sold the remaining interests in our Northern Florida publications. Total combined proceeds were $0.8 million and we recorded a pre-tax gain of $0.3 million.
Community newspapers and shoppers revenue for the third quarter decreased 17.9% to $6.2 million compared to $7.5 million. Excluding Florida operations revenue of $0.5 million in 2011 and $1.3 million in 2010, revenue decreased 9.3%. Retail advertising revenue decreased 21.0% and classified advertising revenue decreased 19.4%. Excluding Florida advertising revenue of $0.5 million in 2011 and $1.2 million in 2010, retail advertising revenue decreased 12.2% and classified revenue decreased 4.8%. Operating earnings from community newspapers and shoppers were $0.5 million, including a $0.3 million pre-tax gain on the sale of the remaining Florida operations, compared to $0.7 million. Operating expenses were down $0.9 million or 13.3%, primarily due to the sale of the remaining Florida operations, cost savings from previous workforce reductions and lower operating costs associated with lower revenue. Excluding Florida operating expenses of $0.5 million in 2011 and $1.1 million in 2010, operating expenses declined 6.4%.
*Corporate*
The operating loss for the third quarter was $1.7 million compared to $2.0 million. The reduction in the operating loss was due to lower executive incentive compensation costs in 2011 and a reduction in other expenses.
*Non-Operating Items*
For the third quarter, other expense, which primarily consists of interest expense, was $0.8 million compared to $1.0 million. The decrease in interest expense reflects a decrease in average borrowing levels for the quarter partially offset by an increase in average borrowing rates under our amended and extended credit agreement entered into on August 13, 2010.
The third quarter effective tax rate was 38.8% compared to 37.4%. The increase in the effective tax rate in 2011 is primarily due to recording a benefit for certain amended federal tax returns in 2010.
*Notes Payable to Banks and Cash Flows*
At the end of the third quarter, our notes payable to banks were $55.0 million, a reduction of $6.0 million from the end of the second quarter. During the first three quarters of 2011, we reduced our notes payable to banks by $19.6 million as compared to the fiscal 2010 year-end. Our consolidated funded debt ratio, as defined in our credit agreement, was 0.75-to-1. Year-to-date cash from operating activities was $26.4 million compared to $45.5 million. Year-to-date cash from operating activities has decreased primarily due to a decrease in cash provided by working capital and the decrease in net earnings. Year-to-date capital expenditures were $8.1 million compared to $7.3 million.
*Share Repurchase Authorization*
On July 12, 2011, the Board of Directors authorized a share repurchase program of up to $45.0 million of our outstanding class A common stock and/or class B common stock until the end of fiscal 2013. During the third quarter, we repurchased 603,200 class A shares at a total cost to the company of $2.1 million.
*Fourth Quarter 2011 Outlook*
For the fourth quarter of 2011, broadcast revenues, excluding political and issue advertising, are expected to be up slightly compared to the prior year period. We anticipate that publishing revenues will be down compared to the prior year period reflecting continued challenges with publishing advertising revenue.
*Conference Call and Webcast*
The company will hold an earnings conference call today at 10:00 a.m. Central Time (11:00 a.m. ET, 8:00 a.m. PT). To access the call, dial (866) 700-0161 (domestic) or (617) 213-8832 (international) at least 10 minutes prior to the scheduled start of the call. The access code for the conference call is 43924780. A live webcast of the third quarter conference call will be accessible through the Journal Communications’ website at www.journalcommunications.com/investors
*Forward-looking Statements*
This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found in our most recent Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission.
*About Journal Communications*
Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in radio and television broadcasting, publishing and interactive media. We own and operate 33 radio stations and 13 television stations in 12 states and operate an additional television station under a local marketing agreement. We publish the *Milwaukee Journal Sentinel*, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and several community newspapers and shoppers in Wisconsin. Our interactive media assets build on our strong publishing and broadcasting brands.
Naspers focuses effort on classifieds in Africa
Press release – On 24 October 2011 MIH Internet (Sub-Saharan Africa) advised that, following a strategic review of its investment priorities, it will be closing down the Kalahari Kenya and Kalahari Nigeria operations with immediate effect.
MIH launched online retail services in Kenya and Nigeria under the Kalahari brand in October 2009 and January 2010, respectively. This was pioneering work which carried considerable risk. As the performance of the service has been below expectation since launch and reaching profitability was not a reasonable near-term prospect, a decision was made to refocus efforts on other group businesses within the region. Specifically, our Dealfish and Mocality sites will continue to operate.
Contact details:
Stefan Magdalinski , GM, E-Commerce, Sub-Saharan Africa MIH Internet
Point2 and EXIT Realty Enter Listing Syndication and Approved Supplier Agreement
*Point2 and EXIT Realty Enter Listing Syndication and Approved Supplier Agreement*
*San Diego**, – Oct. 25, 2011 – *Point2 today announced a multi-year agreement with EXIT Realty Corp. International to power automated real property listing syndication for EXIT Realty’s agents and brokers across Point2’s network of more than 70 consumer real estate partner websites and search engines inNorth America.
Point2 also becomes an EXIT Realty Approved Supplier, partnering to co-market Point2’s online real estate marketing, lead management
“We are pleased to partner with EXIT Realty to bring to their members Point2’s best-in-class software, including Point2 Agent
“EXIT Realty prides itself on being highly selective with its partnerships and product offerings,” saidAmy Youngren, Manager of Ancillary Services, EXIT Realty Corp. International. “Point2’s unique solution set enables us to satisfy important needs for our Associates in the areas of online branding and advertising, lead generation and, property management, a natural and increasingly more compelling service expansion area for REALTORS®.
The program will launch at EXIT Realty’s 13th Annual Convention held October 26-29, 2011 at the renowned Gaylord Opryland inNashville,TN, with Point2 present as an Exhibitor in booth #14.
The deal underscores and further strengthens Point2’s position in the data aggregation and distribution market, as well as the brand’s position in the real estate marketing http://agent.point2.com/ and property management segments.
*About Point2*
Point2 (www.Point2.com http://www.point2.com/), a Yardi Systems Inc. ( www.yardi.com) brand, provides inventory management and online marketing solutions to the real estate industry across 120 countries, as well as property management software solutions for medium to small size organizations managing up to 1000 units.
More information about Point2 can be found at www.Point2.com.
Lee Enterprises updates revenue outlook
*Lee Enterprises updates revenue outlook*
DAVENPORT, Iowa (Oct. 24, 2011) — Lee Enterprises, Incorporated (NYSE: LEE) announced today that it expects to report a year-over-year revenue decline of approximately 3.8 percent for its fourth fiscal quarter ended Sept. 25, 2011, with digital advertising revenue up 23.4 percent. Same property revenue is expected to decline approximately 3.5 percent. For the full fiscal year, the revenue decline is expected to be 3.3 percent, with digital advertising revenue up 27.0 percent and same property revenue down 3.1 percent.
Carl Schmidt, vice president, chief financial officer and treasurer, said Lee has not finalized its financial statement closing process for the quarter and may identify items that would require adjustments to these latest forecasts. Final results for the quarter are scheduled to be announced Nov. 7.
Lee Enterprises is a leading provider of local news and information, and a leading platform for advertising, in its markets, with 48 daily newspapers and a joint interest in four others, rapidly growing digital products and nearly 300 specialty publications in 23 states. Lee’s ewspapers have circulation of 1.4 million daily and 1.7 million Sunday, reaching nearly four million readers in print alone. Lee’s digital sites attracted 21.6 million unique visitors in September 2011. Lee’s markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; and Tucson, Ariz. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee, please visit www.lee.net.
(Asia) IPGA sites win major awards in Asia
*Kuala Lumpur
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*For Immediate Release *
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*THE iPROPERTY GROUP WINS COVETED WEBSITE AWARDS *
*IN MALAYSIA AND HONG KONG*
*With portals in Singapore and Indonesia reporting high growth *
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Adding another accolade to the iProperty Group’s astounding collection of awards, owner and operator of market leading property websites in Malaysia, Hong Kong, Singapore and Indonesia with investments in India and the Philippines, was the recognition that acknowledges iProperty.com Malaysia as Digital Media Company of the Year in the category of Property and Real Estate in Malaysia and GoHome.com.hk http://gohome.com.hk/ as Property Portal of the Year 2011 in Hong Kong. ****
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Ecstatic about this accomplishment, iProperty Group’s Chief Executive Officer, Shaun Di Gregorio said it was a tremendous honour to win such highly acclaimed awards. The fact that the group garnered the respect of the industry is proof that the iProperty Group is the clear market leader in a highly competitive property arena. ****
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“Our mission is to continue to deliver first class customer service and highly innovative products that will create a more engaging experience for property buyers and investors, helping them make a more informed decision,” added Di Gregorio before sharing the success accomplished by each country. * ***
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*Malaysia *
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This was the third consecutive year, since 2009, that iProperty.com Malaysia has clinched this highly coveted award of being recognised as Digital Media Company of the year by Advertising + Marketing, ahead of the next ranked property portals; Mudah Property, Star Property and HomeGuru. ****
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iProperty.com Malaysia has also moved up the ranks from the sixth position in 2010 to the fourth position in 2011 in the overall top 15 digital companies in Malaysia, after popular sites such as Facebook, Google, and the Star Online. ****
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Aside from this prestigious award, iProperty.com Malaysia magazine was also voted the No.1 Magazine for the third year running by Advertising + Marketing Malaysia. ****
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Working with Malaysia’s top developers and more than 7,500 real estate agents, iProperty.com Malaysia has extended its lead as the clear property website of choice and in September, the site generated a record of more than 1,000,000 unique visitors which is more than four times its nearest rival, and more than 300,000 leads for advertisers.****
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iProperty.com Malaysia also presently maintains a strong online presence on internet portals like apartment-penang.com, Bernama.com, feedgeorge.com, Lelong.my, Malaysiakini.com.my http://malaysiakini.com.my/, Maxis My LaunchPad, Mitula.com, MSN Malaysia, mySimlipfieds.com, NewStraitsTimes’s e-Media, Sinchew-i.com, SME Corp. Aside from this, iProperty.com Malaysia is in partnership with three print partners that feature property listings which include Sin Chew Classifieds, Property Buyer Magazine and Utusan Malaysia Idea Kini Classifieds. ****
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*Hong Kong *
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With its market-leading position among consumers and real estate professionals alike, being acknowledged as ‘Property Portal of the Year 2011’, by leading trade journal of marketers, Marketing Magazine, further strengthens Go.home.com.hk http://go.home.com.hk/ leadership position in Hong Kong. ****
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GoHome.com.hk http://gohome.com.hk/ has more than 500,000 unique visitors and more subscribing customers than any other property portal, making it the clear leader ahead of 28hse.com, hkproperty.com and squarefoot.com.hk.****
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“The accreditation of this award is recognition of the great work that the gohome.com.hk team has done over recent times. The significant improvements made to the gohome.com.hk website has not only obtained overwhelming support from the real estate industry but also from consumers and this has been instrumental in achieving this accolade and extending our leadership position in Hong Kong.” added Di Gregorio. ****
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*Indonesia *
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Extending the iProperty Group’s leadership in Asia, the group successfully penetrated into the Indonesian market via the acquisition of the No.1 and No.3 property portals, Rumah123.com and rumahdanproperti.com, respectively early this year. ****
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Following the acquisition, rumah123.com has more than doubled the number of subscribing agents in the last three months and signed partnership deals with the largest franchise groups in Indonesia ERA, Ray White and LJ Hooker. This is on top of a substantial increase in consumer traffic to the website to more than 700,000 visits. ****
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This has further extended rumah123.com’s position as the clear leader in Indonesia.****
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“Like in all markets that we operate in, innovation is the key driver and the potential to develop the Indonesian property market is tremendous as the country is rapidly developing. The country also has one of the fastest growing internet markets in the world.” said Di Gregorio. ****
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Adding on, Di Gregorio said that with the Group’s range of highly innovative products, he firmly believed that the group will be able to further increase market share in Indonesia. ****
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*Singapore *
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iProperty.com.sg http://iproperty.com.sg/ continues to be the preferred property portal in Singapore and this was reinforced by independent website measurement firms including Google Analytics and comScore.****
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iProperty.com.sg http://iproperty.com.sg/ recorded a record of 744,000 unique visitors in June of this year, and has continued to focus on delivering highly innovative tools which offers property buyers the convenience of searching through over 73,000 properties in Singapore anytime and anywhere. ****
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Following the introduction of several innovative products such as the Property Trend Widget, an analytical tool available on the website that delivers real-time property price information and movements, the iPhone and iPad app, the team at iProperty.com.sg http://iproperty.com.sg/ recently launched the Android app for smartphones, offering property hunters more alternatives to search for their dream property. The portal is also accessible via a mobile-friendly version for use on all smartphones. ****
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iProperty.com.sg http://iproperty.com.sg/ hosts the most comprehensive online database of properties for sale and rent in Singapore and powers the real estate channels and property content of xinMSN, Yahoo! Singapore, inSing.com, PropertyZone.sg, entersingapore.info, Mitula.com and StreetSine.com. ****
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*About the iProperty Group (*www.iproperty-group.com*)*
Listed on the Australian Securities Exchange, iProperty Group (ASX: IPP) owns Asia’s leading network of property websites under the iProperty.com umbrella brand. The Company is focused on developing and operating Internet-based real estate portals with other complementary offerings in Asian markets. It currently operates consumer and business online property portals in the markets of Singapore, Malaysia, Hong Kong and Indonesia, with investments in India and the Philippines. With further expansion planned, IPGA is continuously working to capitalise on its market-leading positions and the rapidly growing online property advertising market throughout the region.****
iProperty Group Network of websites:****
**• **Malaysia: iProperty.com Malaysia http://www.iproperty.com.my/*** *
**• **Singapore: iProperty.com Singapore http://www.iproperty.com.sg/* ***
**• **Hong Kong: GoHome.com.hk http://www.gohome.com.hk/ and House18.com http://www.house18.com/main.php****
**• **Indonesia: rumah123.com
**• **India: iProperty.com India http://www.india.iproperty.com/****
**• **Philippines: iProperty.com Philippines http://ph.iproperty.com/* ***
**• **Events: iProperty.com EXPO ****
**• **Luxury: iLuxuryasia.com http://www.iluxuryasia.com/****
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*For media enquiries and interviews, please contact:*
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Debbie Pereira (Ms)****
PR Manager****
Mobile: +6016 2334 386 DID: +603 2264 6888****
Email: debbie.pereira@iproperty.com****
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The Australian digital subscription service to launch on October 24
*The Australian digital subscription service to launch on October 24*
* Free three month trial offer to all readers. *
News Limited launches new website futureofjournalism.com.au
The chief executive officer of The Australian and News Digital Media, Richard Freudenstein, today announced that The Australian will launch its digital subscription service on Monday October 24 with a three month free trial offer for all readers.
On the same day The Australian will launch a redesigned website and a new ‘m-site’, a site specifically designed for mobile phones.
The Australian will use a ‘freemium’ subscription model, offering a mix of free and subscription-only content across its digital properties.
Once the three month free trial period ends*, readers will be able to choose from four simple subscription packages, covering print and digital
- ‘The Australian Digital Pass’ which gives access to The Australian’s entire website, iPad and Android apps, and m-site will cost just $2.95 per week. – ‘The Australian Digital Pass’ plus a six day print subscription will cost just $7.95 a week. – ‘The Australian Digital Pass’ plus The Weekend Australian print edition will cost just $4.50 a week. – ‘The Australian Digital Pass’ plus The Weekend Australian print edition plus any single weekday print edition will cost just $5.20 a week.
Holders of ‘The Australian Digital Pass’ will have a single login which will work online, on tablet and on mobile.** ‘The Australian Digital Pass’ will run for four week periods, automatically renewing each time it expires.
Existing six day a week print subscribers will receive a complimentary digital subscription. Since Rupert Murdoch announced News Corporation’s intentions to launch digital subscriptions in 2009, at least 70 newspapers around the world have begun charging for online journalism.
News Corporation publications The Wall Street Journal and The Times and The Sunday Times of London have highly successful digital subscription packages, with The Times and The Sunday Times now growing overall print and digital circulation.
The New York Times introduced digital subscriptions earlier this year and now has over 1.1 million digital subscribers. Also today, News Limited launched a new website, futureofjournalism.com.au. The site contains news, information, interviews and thought pieces on digital subscriptions and the future of journalism. End.
* The three month free trial offer ends on December 15th.
** Tablet owners will still be able to subscribe to the iPad and Android applications of The Australian through the respective app stores, although such subscriptions will not give access to subscriber-only content on the website and m-site.
Note – Senior members of The Australian’s editorial and commercial management team are available for interview. For more information contact:
Stephen Browning Phone | 612 8114 7850 or Mobile | 0432 961 773 Email | stephen.browning@news.com.au
[Adicio] CareerCast.com’s Creepiest Careers
*CareerCast.com Identifies Creepiest Careers*
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CARLSBAD, CA, USA/AMSTERDAM, THE NETHERLANDS (Oct. 20, 2011) – At this time of year, many of us take great pains to avoid spiders and other creepy-crawly creatures. But for some, a career working with slithery creatures is exactly what the doctor ordered, according to CareerCast.com
“Forensic Entomologist, who studies insects that invade a person’s dead body and decipher insect life cycles to determine the time and manner of death, is the creepiest career on our list,” says Tony Lee, publisher, CareerCast.com http://www.careercast.com/. “These little bugs can even offer clues as to when and if a body part was moved after death and the types of injuries that may have occurred.”
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Other creepy careers include Arachnologists, who study over 90,000 discovered species of arachnids, including spiders, scorpions, daddy longlegs, camel spiders, ticks and mites; Pest Control Specialists, who must be able to accurately assess and eliminate insect and rodent threats; and Reptologists, who are wildlife biologists specializing in the study of creatures with green scaly skin.****
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If you aren’t a herpetophobe, arachnophobe or just “creeped-out” by the mere mention of slithery critters, then maybe one of the following creepy-crawly careers is for you:
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1) *Forensic Entomologist* ****
*Average Salary* – $47,740****
*Job Description * – Forensic Entomologists use their knowledge of insects and the lifecycle of death to apply it to criminal matters. ****
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2) *Arachnologist *****
*Average Salary* – $61,660****
*Job Description * – Arachnologists are biologists who study spiders of all shapes, sizes and varieties.****
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3) *Pest Control Specialist* ****
*Average Salary* – $30,340****
*Job Description * – Pest Control Specialists remove creatures from households, apartment buildings, places of businesses and other structures to protect people and maintain structural integrity.****
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4) *Reptologist*****
*Average Salary* – $61,660****
*Job Description * – Reptologists are wildlife biologists who specialize in the study of reptiles. Some may work in zoos, while others work in museums of natural history or other venues.****
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5) *Road Kill Removal Specialist* ****
*Average Salary* – $30,000****
*Job Description * – Road Kill Removal Specialists help to extricate and remove dead animal carcasses from highways, roadways and other passageways to dispose of the remains and to prevent potential accidents. ****
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6) *Field Entomologist*****
*Average Salary* – $47,740****
*Job Description * – An entomologist studies insects and their lifecycles. From determining classification to observing behavior to determine population dynamics, entomologists play an important role in understanding the insect world.****
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To read the full report, visit www.CareerCast.com
** ** About CareerCast.com ****
CareerCast.com http://www.careercast.com/, created by Adicio
Transcon launches auction / barter site in Canada
*Transcontinental Media Wagers on Online Auctions and Launches BidGO.ca* * * MONTREAL, Oct. 19, 2011 /CNW Telbec/ – Transcontinental Media
*An original business model* **
BidGO is based on an innovative barter program that lets local businesses who advertise with Transcontinental Media, Newspaper Division – Quebec and Ontario, Atlantic Provinces and Saskatchewan receive advertising space in exchange for goods and services of equal value. BidGO is the virtual marketplace where the bartered items are then put up for auction. The site also gives retailers the opportunity to “lease” a section to sell off their products.
“We are extremely proud of the product we are launching today. Because it is based on an exclusive barter concept, the BidGO business model has enormous growth potential. More than just an online auction site, it is an innovative and exciting solution that promotes the interests of all our customers, whether advertisers or consumers,” said Stéphane Gagné, Vice President, Local Digital Solutions, New Media and Digital Solutions Group.
With its evocative name and friendly, simple interface, BidGO stands out from conventional auction sites because of the “local” nature of its inventory, with regionally grouped products and packages. This difference lets users take advantage of relevant offers, plus it gives the site a unique market niche.
*Reliable and user-friendly* Innovating on the options of traditional auctions, BidGO contains highly developed interactive features and functions. For instance, the site has advanced search options so that users can refine their search results using a variety of criteria, such as product category, price, region and postal code. As well, BidGO integrates social plugins for Facebook and Twitter. From graphic design to navigation properties to ultra-secure operating technology, nothing has been overlooked in the quest to have the BidGO experience set the Canadian standard for local online auction sites.
*Bid Often, Save Always!* To build BidGO’s reputation, Transcontinental Media will rely primarily on a network of top-tier advertisers/suppliers and offer buying opportunities of real value. The promise is to offer good deals at the best prices in a variety of categories… and in the local vicinity. In addition, the service is provided free of charge. All bids start a $1 and do not have a reserve. Therefore, all products and/or services can be purchased at any price regardless of its value. Bidders bid as often as they want and the winner only pays the price of the winning auction. BidGO is also very different from auction sites where each bid costs money. So its promise is true: on BidGO, the more often you bid, the more you save!
*BidGO.ca http://bidgo.ca/* will officially replace the auction page of merkado.ca originally developed by the Quebec community newspaper group under the direction of Serge Lemieux. As to the “classifieds” section of this very site, users will now be redirected to the address yourclassifieds.ca, a new address dedicated solely to classified ads. ** *About Transcontinental Media* The fourth largest print media group in Canada, with more than 3,000 employees and annual revenues of $608 million in 2010, Transcontinental Media http://www.transcontinentalmedia.com/ reaches, through its multiplatform offering, over 18 million consumers across Canada. The group is the largest publisher of consumer magazines and French language educational resources in Canada, and the largest publisher of local and regional newspapers in Quebec and the Atlantic provinces. Transcontinental Media publishes the weekday daily Metro in Montreal and Halifax. It is also the leading distributor of door-to-door advertising material in Canada, with Publisac in Quebec and Targeo in the rest of Canada. Transcontinental Media is distinguished by its custom publishing, mailing and customized email database, which allows marketers to connect efficiently with more than six million consumers. Thanks to a wide digital network of more than 1,000 websites, Transcontinental Media reaches 11.3 million unique visitors per month in Canada.
Transcontinental Media is a subsidiary of Transcontinental (TSX: TCL.A, TCL.B, TCL.PR.D) which has operations in Canada and the United States, and reported revenue of C$2.1 billion in 2010. ** *For further information: * *or interview requests: * Nancy Bouffard Director, Internal and External Communications Transcontinental Inc. Telephone: 514 954-2809 nancy.bouffard@transcontinental.ca
