Auctions.com Announces New Venture with Torstar Corporation - Canada's Leading Publishing Company.CHICAGO--(BUSINESS WIRE)--Dec. 16, 1999-- Auctions.com announces its third international partnership Auctions.com today announced the creation of a new venture with Torstar Corporation, Canada's leading publishing company. This new venture will provide consumer-to-consumer and business-to-consumer auction services powered by auctions.com's newly enhanced technology platform and supported by the company's innovative consumer protection and service programs. Under the terms of the agreement, auctions.com LP, www.auctions.com, a division of Chicago-based Classified Ventures, Inc., will take a 20 percent equity stake in the new venture, while Torstar Corporation will hold an 80 percent stake. President of the new company will be Stephen Miles who will oversee the new venture that will officially launch in the second quarter of the year 2000. "As the leading media company in Canada, Torstar is an outstanding addition to our international auction network," said Tom Finke, president, auctions.com. "Torstar brings a clear vision for e-commerce success that is based in part on a strong commitment to promoting this new venture to the readers and advertisers of Torstar's five daily and nearly 60 community newspapers in Ontario. It also has extensive interactive holdings, including thestar.com, torontostarTV.com and a 45 percent interest in toronto.com." "As we evaluated opportunities to partner with a leading online auction company, we were impressed by the quality of the product and the level of customer service and support that auctions.com offers," noted Bruce Annan, vice-president of electronic media for the Toronto Star The Toronto Star is Canada's highest-circulation newspaper, though its print edition is distributed almost entirely within Ontario. It is owned by Toronto Star Newspapers Ltd., a division of Star Media Group, a subsidiary of Torstar Corporation. . "We were also impressed with the success of auctions.com's partnerships in the UK and Australia." In Australia, auctions.com operates Sold.com.au, a joint venture with the John Fairfax John Fairfax (24 October 1804 – 16 June 1877) - journalist; is notable for the incorporation of the major newspapers of modern day Australia. Overview The son of William Fairfax and his wife, Elizabeth Jesson, was born in Warwick, England. Group Pty. Ltd., which recently announced that it completed more than 40,000 sales worth over $7.5 million (AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) since its launch in July. SOLD.com.au is the number one online auction site, is listed in the top 100 sites in Australia and has over 63,000 registered members completing over 90,000 user sessions A count of how many times all users access a Web site regardless whether the same person came back several times during the measurement period. If a user leaves and returns within a short time, some systems count those sessions as one. Contrast with unique visitors. See also user session. per week. In the UK, auctions.com recently announced the formation of Freeserve Auctions, a joint venture with Freeserve PLC, the UK's largest Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. . "This venture is an important component of our international strategy to introduce our innovative auction technology into new markets," said David Israel
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for the writer, musician, composer. , president and chief executive officer, Classified Ventures, Inc. About auctions.com Auctions.com is the world's fastest growing online auction network. Auctions.com provides online auction services and support for consumers, affiliates, and merchants in a secure, information-rich and entertaining digital marketplace. Formerly known as Auction Universe, auctions.com has already secured contracts to list more than two million items to appear on the auctions.com national site and its Classified Ventures newspaper affiliate sites beginning in the first quarter of next year. Through the recently announced equity partnership with Premiere Radio Networks Premiere Radio Networks is a radio syndication and preparation company based in the United States. It is currently the largest syndication company in the United States based on popularity of programming. , the network radio business of Clear Channel Communications Not to be confused with clear channel radio stations, which are AM radio stations with certain technical parameters. Clear Channel Communications (NYSE: CCU) is a media conglomerate company based in the United States. (NYSE NYSE See: New York Stock Exchange : CCU CCU abbr. 1. coronary care unit 2. critical care unit CCU critical care unit. CCU Critical care unit, see there ), auctions.com will use significant radio advertising campaigns to build interest in the site. Auctions.com offers world-class, 24-hour customer service and a patent-pending consumer protection program Bid$afe(TM), the premier online transaction security program. Auctions.com is a division of Chicago-based Classified Ventures, Inc. About Classified Ventures Classified Ventures, Inc. provides nationally branded online services for the developing e-commerce opportunities in the classified advertising marketplace that build upon the local capabilities and expertise of a national affiliate network An affiliate network acts as an intermediary between publishers (affiliates) and (merchant) affiliate programs. It allows publishers to find affiliate programs, which are suitable for their website and it helps websites offering affiliate programs reach its target audience. . The company currently operates the Web sites Apartments.com(TM), www.apartments.com, auctions.com (TM), www.auctions.com, cars.com(TM), www.cars.com, MovingCenter(TM), www.movingcenter.com, and NewHomeNetwork.com(TM), www.newhomenetwork.com. Classified Ventures also operates HomeHunter(TM), a local resale real estate service on the Web sites of more than 130 newspaper affiliates. Classified Ventures, Inc., based in Chicago, was formed by eight leading media companies Central Newspapers, Inc., Gannett Co., Inc., Knight Ridder
Knight Ridder (IPA: /ˈrɪdɚ/) was an American media company, specializing in newspaper and Internet publishing. , The McClatchy Company, The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times Company, The Times Mirror Company, Tribune Company and The Washington Post Company. About Torstar Corporation: Torstar Corporation is a broadly based publishing company. Its operations include the Torstar Daily Newspaper Group, including the Toronto Star, Canada's largest daily newspaper, the Hamilton Spectator, and the Kitchener-Waterloo Record; Metroland Printing, Publishing & Distributing, publishers of community newspapers and distributors of advertising materials; Harlequin Enterprises, the world's largest publisher of series romance fiction; the Children's Supplementary Educational Publishing Division, which publishes and produces educational products for teachers, parents and children under the Frank Schaffer, Tom Snyder Productions, Delta Education and Learning Adventures names; and approximately a 40 percent interest in ITI (Information Technology Industry Council, Washington, DC, www.itic.org) Formerly the Computer and Business Equipment Manufacturers Association (CBEMA), founded in 1916. ITI is a membership organization composed of approximately 30 large high-tech companies. Education, Canada's leading postgraduate information technology education institution. |
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