Newspapers Extend Online Spree
We were alerted via Paid Content that Classified Ventures (CV), owners of Cars.com and recent buyers of HomeGain, have acquired NewCars.com. Unlike HomeGain, which is the No. 2 or 3 real estate site, NewCars.com is not among the top automotive sites.
It's not clear whether the site will merely serve as a front door to a consolidated listings database or whether the business will operate as a stand-alone automotive site as it is now.
Newspapers are now aggressively seeking to establish themselves online. However, the overall vertical strategy which has been the hallmark of CV and other newspaper parntners, for obvious reasons, has to be reconciled with the long-term brand strategy for the involved publishers.