The Los Angeles Times Completes Sale of Recycler Classifieds to Target Media Partners
October 17 2007 - 7:52PM
PR Newswire (US)
LOS ANGELES, Oct. 17 /PRNewswire-FirstCall/ -- The Los Angeles
Times Media Group today announced the sale of Recycler Classifieds,
publisher of four editions of the pioneering Recycler free
classified advertising paper and eleven weekly and bi-weekly photo
ad and employment guides throughout Southern California, as well as
operator of the popular Recycler.com website, to Target Media
Partners. Financial terms of the transaction were not disclosed.
"Recycler has been a valuable asset in the Los Angeles Times Media
Group's diversified portfolio of products," said Bob Bellack,
senior vice president of the Los Angeles Times Media Group.
"However, this strategic transaction will better focus our online
and classified resources to meet the evolving needs of readers,
users and advertisers in Southern California as we head into the
future." As part of the agreement with Target Media Partners, The
Times and Recycler Classifieds will continue their current online
distribution relationship whereby Cars.com powers the automotive
functionality on the Recycler.com site. "We welcome all of
Recycler's employees, 15 publications, and Recycler.com's almost
500,000 monthly unique users to the Target Media family," said Mark
Schiffmacher, CEO of Target Media Partners. "Recycler's advertisers
can look forward to expansion of the free ad concept it introduced
more than 25 years ago and we are pleased that Recycler.com's
business relationship with The Times and Cars.com will continue and
grow." About the Los Angeles Times The Los Angeles Times is the
largest metropolitan daily newspaper in the country, with a daily
readership of 2.2 million and 3.3 million on Sunday. The Los
Angeles Times and its media businesses and affiliates -- including
latimes.com, The Envelope/theenvelope.com, Times Community
Newspapers, Hoy, and California Community News -- reach
approximately 8.1 million or 62% of all adults in the Southern
California marketplace. The Pulitzer Prize-winning Los Angeles
Times, has been covering Southern California for over 125 years and
is part of Tribune Company (NYSE:TRB), one of the country's leading
media companies with businesses in publishing, the Internet and
broadcasting. Additional information about the Los Angeles Times is
available at http://www.latimes.com/mediacenter. About Target Media
Partners Target Media Partners is a leading print and on-line
publisher with more than 75 local classified, photo and other
specialty advertising products in 26 states, as well as 10 national
publications targeting long-haul truck drivers. Its print products
have monthly circulation of more than 6 million copies, and with
more than 1 million unique visitors and 15 million page views each
month, Target Media's 40 websites complement its print publications
by enhancing local and niche brand names and increasing advertiser
response. In its 10th year of operation, Target Media Partners
(http://www.targetmediapartners.com/) is headquartered in Los
Angeles. DATASOURCE: Los Angeles Times CONTACT: Stephan
Pechdimaldji of Los Angeles Times, +1-213-237-4791, ; or Jack
Humphreville of Target Media Partners, +1-323-930-3123, ext. 103,
Web site: http://www.latimes.com/
http://www.targetmediapartners.com/
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