Google buys radio advertising firm
US Internet search titan Google plans to tap into offline revenue by buying a California radio advertising firm.Updated: Jan 19, 2006 10:36 IST
US Internet search titan Google plans to tap into offline revenue by buying a California radio advertising firm, the Google website has confirmed.
Google revealed it has agreed to pay $102 million in cash for dMarc Broadcasting Inc based in the southern California city of Newport Beach.
Google promised bonus payments of up to $1.136 billion if dMarc makes targeted revenue, advertising and technical goals during the next three years, according to Google.
The dMarc automated radio advertising system will be used to create radio advertising options for online advertisers, according to Google.
"Google is committed to exploring new ways to extend targeted, measurable advertising to other forms of media," said Tim Armstrong, vice president of advertising sales at Google.
"We anticipate that this acquisition will bring new ad dollars and accountability to radio by combining Googles expansive network of advertisers with dMarcs talented team and innovative radio advertising technology."
The union should "grow and improve the ecosystem of the radio industry," Armstrong said.
The dMarc advertising platform streamlines purchase and tracking of radio advertising, according to the company. "We are excited to be joining one of the most innovative companies in the world," dMarc chief executive officer Chad Steelberg said in a written release.
"We are bringing together complementary visions of simplicity, efficiency, and accountability to the radio advertising process."
First Published: Jan 19, 2006 10:36 IST