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There seems to be no end to the bad news for newspaper companies. Yet this may actually be good for Gannett (NYSE: GCI).

That is, the company has acquired the rest of ShopLocal.com from McClatchy (NYSE: MNI) and Tribune, which recently went private. The details: Gannett snagged McClatchy's 15% stake for $7.9 million and Tribune's 42.5% position for $22.3 million.

ShopLocal calls itself as a "multi-channel shopping services" company. Essentially, the platform helps you effectively market locally, using online methods.

Gannett also owns PointRoll, which develops rich online media. Thus, by combining this with ShopLocal, it will have more interactive ad formats. It looks like the parties are already working on back-to-school campaigns. And with ShopLocal being under complete control, it should be a lot easier.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.

Gannett goes shopping for ShopLocal originally appeared on BloggingStocks on Wed, 09 Jul 2008 16:30:00 EST. Please see our terms for use of feeds.

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