Topix.net has announced that Gannett Co., Inc., Knight-Ridder, Inc., and Tribune Company jointly have acquired a 75% stake in Topix.net. Ownership is split evenly, with each media company owning 25% and the Topix.net founders retaining a 25% stake. Financial terms of the transaction were not disclosed.
Topix.net continuously monitors breaking news from over 10,000 online sources and categorizes daily news content into over 300,000 topics, 24 hours a day. Topix.net will operate as an editorially independent, stand-alone company managed by Topix.net's executive team. Topix.net will use content and funding from Gannett, Knight Ridder and Tribune to expand and refine its NewsRank technology, services, and operational infrastructure.
Topix.net features links to news and information from news sources including newspapers, magazines, radio, television stations, and Web logs. Topix.net distributes news through its Web site, RSS feeds, and email news alerts. It syndicates its content through partnerships and Web sites that host news feeds from Topix.net. Topix.net uses its NewsRank technology to deliver news, using concept, instead of simple keyword searches. It delivers published news stories organized by ZIP code, industry, and topics.