Local Corporation Announces Rovion Sale
Gannett Acquires Rovion Assets
IRVINE, Calif. -- October 19, 2012
Local Corporation (NASDAQ: LOCM), a leading online local media company, today
announced the sale of Rovion to Gannett Co., Inc. (NYSE:GCI).
The company entered into a definitive agreement to sell Rovion to Gannett on
Oct. 19, 2012. Under the terms of the agreement, Gannett acquired Rovion and
all related assets.
“This is a great outcome for Local Corp. and Gannett. This transaction
enhances our balance sheet and cash flows, while also enabling Gannett’s large
and sophisticated customer base to use Rovion’s powerful rich media platform,”
said Heath Clarke, Local Corporation, chairman and chief executive officer.
Rovion will be part of the Gannett Digital organization under PointRoll, with
all Gannett divisions leveraging the Rovion platform capabilities.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading online local media company that
connects brick-and-mortar businesses with over a million online and mobile
consumers each day using a variety of innovative digital marketing products.
To advertise, or for more information, visit: http://www.localcorporation.com.
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing
solutions company that informs and engages more than 100 million people every
month through its powerful network of broadcast, digital, mobile and
publishing properties. Our portfolio of trusted brands offers marketers
unmatched local-to-national reach and customizable, innovative marketing
solutions across any platform. Gannett is committed to connecting people – and
the companies who want to reach them – with their interests and communities.
For more information, visit www.gannett.com.
Forward Looking Statements
This press release contains certain forward-looking statements that are based
upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words or expressions such as "anticipate," "plan," "will," "intend," "believe"
or "expect'" or variations of such words and similar expressions are intended
to identify such forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements. Key risks are
described in the filings we make with the U.S. Securities and Exchange
Commission. The forward-looking statements in this release speak only as of
the date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason. Unless otherwise
stated, all site traffic and usage statistics are from third-party service
providers engaged by the company. Traffic and our monetization of that traffic
combine to determine our revenues for any given period. Our traffic volume
alone for a period should not be viewed as demonstrative of our financial
results for such period.
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