Press Release: US City Domain Portfolio Offers Major Media and Daily Print Industry Immediate Transition To Digital Delivery Of News
Geocentric Media, Inc. has assembled an unprecedented portfolio covering 23 major US markets with the pure City .com brands for each City.
SCOTTSDALE, ARIZONA, US, May 18, 2020
While it is no secret that the daily print industry has been in a downward spiral for years, the pandemic has accelerated the necessary transition to digital delivery that this industry must achieve. Many recent articles have even questioned the future of journalism itself.
Geocentric Media, Inc has assembled the portfolio over the past year, and believes the time is right for it to be acquired. CEO Fred Mercaldo states: “The facts are clear. Powerhouse organizations that embraced the digital platform too late are now either in bankruptcy, or on the path to becoming a penny stock. Print advertising continues to decline year after year at double digit rates, while digital advertising and subscription revenues increase yearly at double digit rates. Layoffs and decreased budgets have taken its toll on the quality of journalism, which is a very unfortunate result. Newspapers are yesterday’s news, not green friendly, and do not mesh well with the majority of desired demographics that consume their news online. While this was an inevitable transition due to the advancement of technology, it has now become an urgent matter, as the balance sheets of daily print companies are unable to weather the storm created by the dramatic declines in print advertising caused by the pandemic. To prove my point, even though this last quarter print advertising declined for many by over 75%, one major company actually had an increase of digital subscribers, up by 27%. The media company with the best brands will dominate digital news and hyper local business promotion in the future; this portfolio has the best brands ever assembled.”
McClatchy? Bankrupt. Gannett? Their stock reach a shocking low of .63 cents last month. NY Times? Over $709M in digital revenue in 2019….they get it. Boston.com? Reports circulating that their digital revenue is $44M annually…they get it. A combination of digital subscribers and advertisers will provide the necessary revenue for major media and journalism to thrive in the future, but only if the transition begins immediately.
While historically these sites have rarely been available for sale, let alone be available in a portfolio such as this, it provides the buyer with a clear path to dominating each market represented with the pure City .com brand. Local Events, Jobs, Real Estate, Restaurant Guides, Business Directories, along with journalistic content that previously thrived in the daily print model. In reality, there are more monetization opportunities available on digital platforms than in print. Additionally, with recent domain acquisitions of Voice.com for $30M, and LasVegas.com at $90M, this portfolio will prove to be an incredible bargain, as the entire 23 Major US City Portfolio is priced at $25M.
Mercaldo expects this portfolio to be acquired quickly, and encourages interested buyers to inquire immediately. “For any organization that is serious about transitioning from print to digital, this is a “must have” portfolio.” Actually while Mercaldo agrees with this statement, it actually was written by a M&A executive at one of the leading daily print companies. “While at some point in recent years, having these names under ownership may have been a luxury, this is no longer the case. Daily print will soon be gone completely, leaving the future of news, journalism, and local happenings in the hands of these very brands. We are happy to assist the right buyer in this acquisition. A basic principal in sales and marketing is that companies don’t buy products and services….they buy solutions to their problems. This is the exact reason we’ve assembled this portfolio.” The entire list of domain brands can be seen at LosAngeles.com.
Visit us on social media: