By: Staff reports
Knight Ridder and Gannett Diversify
Both Knight Ridder Ventures and Gannett Co. Inc. are continuing to invest in
Internet start-ups as they diversify their online holdings.
This week Knight Ridder Ventures, along with AIG Developed Markets Private
Equity Fund, led a $30 million investment in Grassroots.com, a privately held,
non-partisan company that provides a political action Web site for citizens.
Other investors in the San Bruno, Calif.-based site include Advanced Technology
Ventures, Charter Ventures, and Paramount Capital.
And yesterday, Gannett Co. Inc. announced it has acquired an interest in Luxury
Link, a luxury travel Web site. Gannett was given an ownership interest for an
investment of cash and services, including promotional exposure through
USAToday.com and USA Today.
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