Media General to buy DealTaker

Yesterday Paul reviewed DealTaker and while we are on the subject I would like to make a quick update that last week Media General, a company that owns several newspapers and TV stations in Southeast (see the map below), announced that they signed an agreement with NARAE Enterprises, Inc to acquire DealTaker and the related online properties (PriceTaker, GiftTaker etc).

The financial details of this transaction were not disclosed but whatever the deal is, my congratulations to Neal! According to the press release, the site currently receives over 400,000 unique visitors monthly which is quite an accomplishment for an online company started 4 years back from a closet at home.

A short note to Media General investors. The same press release mentions that “DealTaker is profitable and has strong margins”. I am sure you all hope that it helps Media General’s falling stock and it might. You just need to make sure to fish out from Neal all the secrets of running a profitable deal site before he leaves. ;-)

For more information on DealTaker please read my interview with Neal Rapoport. Also for a closer look inside DealTaker’s office, check out this video on YouTube.

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