Hearst Interactive Media Invests in Online Local Search Firm

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By: E&P Staff

Local.com, an online search company, has announced an $8 million investment from Hearst’s interactive media division and Greenway Capital.

“Local.com is well positioned to capitalize on the consumer and advertiser trends that are delivering growth in the emerging local search advertising industry, said Kenneth Bronfin, president of Hearst Interactive Media in a statement. “We believe Local.com has the right strategy and can become a leader in this area.”

Hearst Interactive Media is a division of Hearst Corporation, which owns the Houston Chronicle and San Francisco Chronicle as well as 40 other daily and weekly newspapers.

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