Blog Post

Media General Acquiring Social Shopper DealTaker

And while media companies are rethinking the big comparison shopping sites within their portfolio, some are going small in their hunt. Newspaper publisher Media General (NYSE: MEG) is acquiring, a social comparison shopping service. The Plano, TX-based site was stared by Neal Rapaport and is organized under his firm NARAE Enterprises. The site was founded in 2004, and claims 100,000 registered users, as well as 1,500 affiliated merchants. Media General plans to combine the service with its established local news sites, offering them a new, non-traditional revenue model. The deal, which MEG expected to be accretive to 2008 earnings, is expected to close in Q2. Terms of the acquisition were not disclosed. Release.