Zillow Expands Classifieds Through Newspaper Alliances
In their latest
bid to counter shrinking print revenues, a group of eleven major
U.S. newspaper companies (representing 282 newspapers) have formed
an alliance with Zillow.com,
extending their classified ads to the popular real estate site.
Under the
agreement, local advertisers who run print and online “for sale” and
open-house ads with the newspapers will also have the option to
share listings on Zillow, which has 1.5 million registered users.
Newspapers will also be able to incorporate Zillow features into
their own sites, including the company’s “Zestimates,” or estimated
valuations of homes nationwide.
Participating
publishers so far include Hearst Newspapers, Journal Register
Company, Lee Enterprises, and MediaNews Group. Newspapers owned by
these companies include the San Francisco Chronicle, the Houston
Chronicle, and the San Jose Mercury News. More newspaper publishers
are expected to join the group before it launches in the first half
of 2008.
Financial terms
of the deal were not disclosed, but it’s expected to include an ad
revenue-sharing arrangement between Zillow and its newspaper
partners.
