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MAR 17

Push in Online Car Shopping†

NBCU Is Hoping Stake in DriverTV Snags Ad Dollars

Wall Street Journal, March 17, 2008 — In an effort to snare more of the automotive advertising dollars migrating online, NBC Universal is buying a sizable stake in DriverTV, a Web site and video-on-demand channel that specializes in videos aimed at car shoppers.

NBCU is paying about $6 million for a 35% stake in DriverTV, which has about $8 million in annual revenue, according to people familiar with the matter. Currently all DriverTV's ad revenue comes from car makers, but the company, which is partly owned by the TV- and ad-production firm Radical Media, is hoping eventually to attract advertisers from other auto-related industries such as insurance.

Category: Marketing Strategy
Tags: NBC Universal, M&A, Online Marketing

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