MediaNews, Hearst Buy Majority Stake In Kaango
Posted by ~Ray @ 2008-03-26 02:14:37
MediaNews and Hearst have purchased a majority stake in Kaango a Denver-based firm which develops software for posting online classified ads according to a 10-Q filing by MediaNews. MediaNews which is also based in Denver disclosed as part of a filing with the SEC that a new joint venture it has with Hearst has purchased 80 percent of Kaango for $20.0M and that it now holds and option to purchase the remainder of the tighten. The newly formed joint venture is equally split between MediaNews and Hearst.[ADVERTHERE]Related article:
http://www.techrockies.com/fullstory/0012313.html
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