(Crain’s) — Tribune Co. has boosted its stake in Topix.net through its contribution to a new $15-million investment in the online news site, Topix said Monday.
Tribune, along with fellow newspaper publishers Gannett Co. and Knight-Ridder Inc., had each owned 25% stakes in Topix. Tribune and Gannett now own 33.7% stakes in Topix, while recent Knight-Ridder acquirer McClatchy Co. owns an 11.9% stake.
Tribune, Gannett and McClatchy made the $15-million new investment, though the amount each invested was not disclosed. Tribune first invested in Palo Alto, Calif.-based Topix in March 2005. Like news sites owned by competitors Google Inc. and Yahoo Inc., the site monitors news Web sites and creates links to articles found on them.
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Monday, November 06, 2006
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