CityXpress Launches GetAwayXpress, Multi-Market Travel Auction Expands Newspaper Reach.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Sixteen newspapers to participate in nationwide auction Nov. 7-16 CityXpress Corp., a company that has generated more than $50 million in revenue for newspapers in the past two years from its event auction program, today announced the launch of GetAwayXpress, a multi-market travel auction that enables newspapers, their advertisers and their readers across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. to participate in a single, large-scale travel marketplace. GetAwayXpress will aggregate travel items from 16 U.S. newspapers in 14 markets into a common auction site that will be promoted as a single event auction. The auction will be conducted over a 10-day period beginning November 7. This model enables local and regional advertisers to gain expanded exposure across North America, regardless of their geographic location. "GetAwayXpress is a great way for newspapers to get more involved in the travel advertising category, one of the areas that we believe offers them significant opportunities to grow their revenue over the next few years," said Phil Dubois Phil DuBois (born November 16, 1956 in Rochester, Minnesota) was an American football tight end in the NFL for the Washington Redskins. He played college football for San Diego State University. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CityXpress. "Travel has always been a popular category in our event auctions, but with GetAwayXpress local advertisers have the means to appeal to consumers in multiple markets." Travel has consistently proven to be one of the most popular and successful categories in CityXpress' event auctions, achieving a 70 percent sell-through. It is a category, however, that is under considerable pressure from online competitors, so GetAwayXpress offers newspapers an opportunity to provide their advertisers with an attractive online alternative, said Dubois. GetAwayXpress operates much like a single-market event auction. Participating newspapers secure travel products from local and regional suppliers. All items will be offered for bid on a single auction site with multiple-market reach. Each participating newspaper will promote the national auction in its market and publish a print catalog displaying its own offers, plus a number of pages of premium out-of-market offers. If a travel offer sells for the reserve price set by the newspaper, the supplier earns an ad credit for the full retail value. GetAwayXpress is a win-win-win proposition for everyone involved. Newspapers generate incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. ad revenue while securing new advertisers, advertisers expand their reach to consumers in other markets while earning newspaper ad credits, and consumers save money while choosing from travel suppliers across North America, said Dubois. The November GetAwayXpress is the first of a planned series of travel marketplaces to be launched over the coming year, with the next scheduled for March 2005. The following newspapers are participating in the initial travel marketplace: - The Philadelphia Inquirer/Philadelphia Daily News - Pittsburgh Post-Gazette - The Miami Herald - Orlando Sentinel - The Charlotte Observer - St. Paul Pioneer Press - Akron Beacon-Journal - St. Louis Post-Dispatch - The Kansas City Star - Ft. Worth Star-Telegram - The Arizona Republic - The Seattle Times/Seattle Post Intelligencer - San Jose Mercury News - Contra Costa Times ABOUT CITYXPRESS CityXpress (www.cityxpress.com), the leading supplier of event auctions, online marketplaces and e-commerce enabled classifieds for the newspaper industry, has pioneered event auctions for newspapers since 2002. CityXpress works with newspapers in the United States Newspapers have declined in their influence and penetration into American households over the years. The U.S. does not have a national paper per se, although the influential dailies the New York Times and the Wall Street Journal are sold in most U.S. cities. , Canada and Europe to stage local auctions through its hosted software and on-site sales and customer support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . The company currently provides services to newspaper companies including Knight Ridder
Knight Ridder (IPA: /ˈrɪdɚ/) was an American media company, specializing in newspaper and Internet publishing. , MediaNews Group Not to be confused with Media General, an unrelated newspaper and TV group. MediaNews Group, based in Denver, Colorado, is one of the largest newspaper companies in the United States. , Cox Enterprises Cox Enterprises is the successor to the publishing company founded in Dayton, Ohio, by James Middleton Cox, who began with the Dayton Daily News. The company is private, 98% controlled by the octogenarian daughter of Cox, Anne Cox Chambers, and the two children of her late , McClatchy, CanWest Global, Lee Enterprises, Scripps Howard, Freedom Newspapers, 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 and the Northcliffe Newspaper Group. CityXpress is headquartered in Vancouver BC and Seattle WA. In 2004, CityXpress announced a strategic relationship with Knight Ridder, the nation's second largest newspaper publisher, to be the exclusive provider of online auctions for its newspapers. This press release and/or communication contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, such as the Company's capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and other liquidity concerns, fluctuations in demand for newspaper auctions and for the Company's other products, competition, technological developments, and other risks and factors. These and other important factors may cause actual results and performance to differ materially from the results expressed in or implied by such forward-looking statements. The forward-looking statements are based on information available to the Company and speak only as of the date hereof. The Company does not assume, and expressly disclaims any obligation or duty to update or revise any of the information presented herein. |
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