Financial terms were not disclosed.
CityPapers.com, with over 90 newspapers under contract, provides interactive
newspaper Web sites specializing in community news and events. PowerAdz.com
said it will integrate the best features of the CityPapers network and
deliver a new generation of networked community, classified and e-commerce
solutions for newspaper affiliates.
“This merger allows us to leverage our core products while letting our
customers, their readers and advertisers benefit from the momentum PowerAdz
has created in the market, and from the power of the network,” said Steve
Saxton, vice president and co-founder of CityPapers.com.
Using PowerAdz’ technology, affiliates provide aggregated local news,
classifieds, automotive, real estate, employment, auction, yellow pages and
community content through a network of hundreds of local, co-branded
newspaper Web sites.
“We have a common vision of a national network of local newspaper sites that
becomes the local portal for every community they serve,” said Mark
Chudzicki, president and CEO of PowerAdz. “This acquisition allows us to grow
the network and helps provide affiliates with the most pervasive Internet
solutions available for attracting traffic and generating revenue.”
Founded in 1996, PowerAdz.com markets its services to newspaper companies
under the AdQuest, CarCast, AuctionHill, ThinkHomes, CareerGold and Zwire!