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As it continues its search to replace ex-digital head Chris Saridakis, Gannett (NYSE: GCI) is trying to make the most of its two successful digital units by bringing them more closely together. Under the new plan, rich media provider PointRoll will oversee social media marketing unit Ripple6. The integration will combine sales and operational efforts and tie together product offerings into a single digital marketing suite. Sang Kim, founder and CEO of Ripple6, will continue to oversee the division under PointRoll. Ripple6 headquarters will remain in New York.
The change follows a largely positive series of earnings reports for Gannett as Pointroll and Ripple6 have demonstrated growth. The exception on the digital side has been online recruiter Careerbuilder, which has suffered along with the high unemployment rate.
He was brought in to serve as Gannett’s chief digital officer two years ago after serving as CEO of Pointroll. Gannett acquired a 92 percent stake in Pointroll for $100 million in 2005 and three years later, purchased the remaining shares for a reported $4.6 million — though final tranche was at a much higher valuation. Saridakis had been an investor in Ripple6 before Gannett bought that company in Nov. 2008. Release