Yesterday, Hearst Corp. sold its stake in Local.com, but it looks like that didn’t hurt the website much - it has now acquired PremierGuide, “the largest and fastest-growing provider of private-label local search solutions to newspaper publishers, TV and radio stations, and city portal operators.”
For the record, Google search for “PremierGuide” - but the price seems reasonable.
Also, for those of you who like to track personnel transfers, “Malcolm Lewis, PremierGuide’s CEO, will become Local.com’s vice president, private label,” according to the release.
UPDATE: As reported by Barron's Online, "A previous version of this story incorrectly reported that Hearst had [sold] its entire stake, a conclusion I reached based on a filing on Form 4 which showed that Hearst held zero shares; apparently the zero referred only to the shares remaining in the 250,000 block of shares sold on July 12. I apologize for the error."
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