By: E&P Staff In a first-of-its-kind online event, The Dallas Morning News and the Fort Worth Star-Telegram will stage a joint auction.
The event, hosted by CityXpress and slated for sometime in April, is the first time two competing newspapers in a major metropolitan market have joined forces in an online auction.
"Sometimes it makes more sense to cooperate than compete," Kathrine Glass, promotions manager for the Belo-owned Morning News, said in a statement. "By combining efforts with the Star-Telegram, we believe we can deliver an impressive first-time event for our readers."
"The newspaper auction is clearly a strategy that is good for both newspapers and the communities they serve," said Mike Winter, vice president of advertising for the Fort Worth Star-Telegram, a Knight Ridder property. "By working cooperatively with The Dallas Morning News we believe we'll offer an event in which the entire Fort Worth/Dallas community will want to take part."
Newspaper auctions are becoming an increasingly popular way of generating online revenues. Local advertisers provide goods and services to be auctioned. In exchange, they get exposure through the auction and advertising credits with their newspapers.
CityXpress has hosted 130 auctions for newspapers since 2001, pulling in more than $27 million for the papers. To date, most auctions run by newspaper Web sites have been finite; they are not ongoing like online auction sites such as eBay.
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