Travidia (www.travidia.com), a leading developer of online shopping solutions for local media, has been sold to a consortium of eight leading media companies – Advance Digital, A. H. Belo Corporation, Cox Media Group, Gannett Co., Hearst Corporation, MediaNews Group, The McClatchy Company, and The Washington Post Co.  These companies have formed a joint venture in connection with the launch of a common online shopping platform to help advertisers reach consumers making purchasing decisions.

Christopher Tippie, an industry veteran who was the founding executive director of the Yahoo! Newspaper Consortium, will serve as acting CEO of the new joint venture. “This initiative among the country's leading media companies provides advertisers a unique opportunity to reach consumers through a simplified and standardized advertising platform. Advertisers can target audiences across participating local newspaper markets through digital display ads or with digital circulars,” said Mr. Tippie.

JEGI represented Travidia in this transaction and acted as its exclusive financial advisor.  For more information, click here.