New Philly Ownership Team Plans To Grow Online Segment

As we’ve mentioned before, most coverage of the sale prospects for the Philadelphia Inquirer and the Philadelphia Daily News focused on the print editions with playing a very limited role. That’s changing now as the soon-to-be new owners of the Philly franchise underscore the importance of the web operations included in their acquisition. First, a little data from the Inquirer, which reports that accounted for about $20 million, or 5 percent, of 2005 ad revenue, and that 2006 ad revenue is running about 30 percent ahead of that. played a prominent role in the announcement, which went out under the brands of the site and the two papers. Lead investor Brian Tierney told the Inquirer they plan to improve technology and content for “We haven’t even begun to scratch the surface of what we can do there.”
AdAge: Tierney, who created and sold Philadelphia’s top ad agency, says his outsider status will help the media outlets get the money he thinks they’ve been leaving on the table. Tierney and the other investors literally have pledged not to interfer with the editorial process but they have some ideas about readers. Tierney: “I have two children, 20 and 23, and they read an awful lot. What the print publication has to do is to reach out and connect at a different level with a younger audience. It’s not ‘You are wrong’ and ‘We are right.’ We have Web sites and print publications and the issue is relevancy.” They will launch a major marketing campaign for all three brands.
— The Daily News blog Attytood has links galore if you want to delve into different aspects of the sale.

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