Gannett makes undisclosed amount investment in Digg.
M2 EQUITYBITES-September 14, 2016-Gannett makes undisclosed amount investment in Digg
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Gannett Co Inc (NYSE: GCI), a next-generation media company and the parent company of USA TODAY NETWORK, announced on Tuesday that it has made an investment in digital media company Digg.
The company said Digg uses proprietary data sources and an editorial team to curate the best content on the web for millions of people every month.
Under this investment, Gannett led Digg's recent Series C investment round with an undisclosed sum to provide USA TODAY NETWORK access to Digg's industry-leading data and to increase scale, reach new audiences and innovate with engaging new content discovery and messaging products.
According to the company, this investment is a part of its commitment to expand USA TODAY NETWORK's content distribution capabilities and improve user experience by enabling readers to easily discover award-winning journalism across multiple platforms.
It is expected that this investment will allow Digg to accelerate innovation for content discovery products utilising its proprietary data, including across messaging platforms. Digg will also have access to local content from USA TODAY NETWORK for improved personalization and geo-targeting content to its users.
In addition, USA TODAY NETWORK, with an audience of over 100 million unique digital visitors a month, and Digg, with a web, mobile, and social audience of 40 million monthly, will allow for greater distribution and reach among advertisers' targeted audiences. The companies will also collaborate and co-create high-quality branded content through USA TODAY NETWORK's GET Creative studio, provide cross-channel distribution and deliver comprehensive advertising analytics to their brand partners.
Further, USA TODAY NETWORK's chief product officer Daniel Bernard will join Digg's board.
The USA TODAY NETWORK is comprised of 109 local US properties and USA TODAY,
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