As had been expected, media giant Gannett today announced that it has purchased social marketing company BLiNQ Media. The news comes nearly two weeks after TechCrunch reported that the acquisition was in the works. Gannett did not disclose the terms of the deal but news outlets have reported that the price could have been between $40 million and $92 million.
As we previously wrote, BLiNQ Media, which is headquartered in New York and helps brands execute and manage advertising campaigns on Facebook and other social networks, is very similar to Washington Post subsidiary SocialCode and gives Gannett a new way to earn ad revenue as audiences move to social platforms.
The acquisition rounds out a summer that has seen heightened activity in social advertising. In the past few months, Buddy Media, Vitrue, Involver and Wildfire have all been purchased by tech heavyweights Salesforce, Oracle and Google.
“With demand for social media marketing solutions continuing to grow at a rapid pace, this acquisition is part of our ongoing transformation at Gannett,” Gracia Martore, Gannett’s president and CEO, said in a statement. “BLiNQ will enhance Gannett Digital Marketing Services’ ability to deliver a one-stop shop for all marketing needs, including social marketing.”