I'm glancing through Google search results for digital marketing and I see this Wall Street Journal article on how Hearst Corp. is buying iCrossing, a digital marketing firm. I actually did not realize that iCrossing was fully a digital marketing firm as much as they've always been in the search marketing space. But hey, it's just a category right? The acquisition is valued at $325 million and supposedly could hit $400 million based on iCrossing's forecasts. There are a couple of interesting points here from my perspective:
- Traditional media doesn't get digital, so they simply buy it.
- Consolidation isn't always a good thing.
- Just when you thought tech startups were where the money was ... wanna sell your agency? (Didn't Hearst buy Kaboodle.com back in 2007?)
- Newspapers - actually 15 including Houston Chronicle, San Francisco Chronicle, Albany Times Union and San Antonio Express-News
- Magazines - 14 US, 20 UK & 200 International including Cosmopolitan, Esquire, Harper's Bazaar, Popular Mechanics, Seventeen and more
- Broadcasting - 29 tv and 3 radio stations
- Entertainment & Syndication - A&E, ESPN, King Features, Lifetime and more
- Business Media - Its B2B services division