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Radio-centric online classifieds company gets estimated $80M pay day

Posted on: 02/12/2008

Texas-based onTargetjobs has put down top dollar for two radio-centric advertising websites, according to a report from today’s Radio-Info.

Radio-Info publisher Tom Taylor says that the price tag for the purchase could be as high as $80 million .

The purchased sitesRegionalHelpWanted.com and Cupid.com — were owned by Eric Straus, who entered the online business in 1999. RegionalHelpWanted.com partners with local broadcast stations to design, build and maintain web sites throughout the country, aiming to capitalize on local help wanted advertising revenues.

Inside Radio calls the site “a service that… arm[s] local stations with the tools to battle newspapers for their lucrative classified business.”

OnTargetJobs says it “invests in leading niche Internet job sites, serving a defined vertical industry or job function”. They also noted, as reported by Inside Radio, that RegionalHelpWanted is working with “hundreds of radio stations throughout the U.S. and Canada” and is involved with over 350 “geographically focused Internet job boards.”

Previously, Citadel Broadcastingpartnered with RegionalHelpWanted.com to create an online classifieds system in conjunction with the broadcaster’s radio properties.

Read previous RAIN coverage of RegionalHelpWanted.com here.

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