WCP Acquires Online News Networks
RENO - July 15, 2009 - World City Press (WCP) acquires
the online news networks of AXcess News, Source Press and
EU News Network, creating the largest independent online
news network in North America.
The networks are comprised of AXcess News, World City Press'
flagship web news publication which had been publishing
broad news online since 2002. The AXcess News Network grew
from a single publication to a 92-city nationwide network
in the seven years its been in business. Source Press, a
16-city online news network in Canada worked closely with
AXcess News in syndicating stories between the publishers
on a cooperative basis for nearly 4 years. Source Press
is considered a key addition to the World City Press global
network. EU News Network, which operates 16 city news sites
in Ireland, Scotland and Great Britain, had also been syndicating
stories for both Source Press and AXcess News for more than
three years when it was acquired. EU News Network is seen
as a strategic foothold into the European market by WCP.
Terms of the deal were not disclosed, though the acquisitions
were made up of the web properties, a custom database and
hosting solution as well as material advertising agreements
and cross-border news syndicate. An extensive syndicate
of more than 7,800 sites that carry the three networks'
stories was also included. Shares were issued in lieu of
"In forming World City Press we looked to take advantage
of the global economic situation affecting all members of
the media when we decided to acquire these three online
news networks and build upon on their core brands,"
said Brandon Piddington, World City Press President.
"Economic conditions were such that AXcess News and
its syndicate partners, Source Press and EUNN, were no longer
able to survive on their own, so when WCP stepped up and
offered to acquire our web properties, preserving our news
organizations in the process, we felt it was a timely and
positive step to take," said Eric Stevenson, former
Editor-in-Chief of AXcess News who joined WCP's board and
now serves as its Publishing Editor.
Piddington revealed that construction of a new content
management system (CMS) was planned for the fourth quarter
with upgrades to the network news sites already underway.
WCP looks to replace the network sites and launch the new
CMS in late December. The custom-built CMS will be capable
of handling in excess of 7 million unique visitors per month
in its first phase of development and upon completion, the
news network will be the first geographic-based news publisher
in North America capable of rolling out ad displays on a
region-by-region basis alongside news published about related
topics of interest with the flexibility of providing local
campaigns on a city-by-city basis within any region in Canada
or the United States.
"WCP saw our vision for a geographic-capable news
network that could match tv, print and radio ad campaigns
in any region of the United States and Canada as the advertising
rolled out nationwide and took it one step further,"
said Stevenson. "Brandon's plans for expansion brought
to the table the commitment needed to take our geographic
approach to publishing online to the next level. World City
Press was the right organization to partner with to fulfill
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