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Belo, A.H. Belo buy stake in ResponseLogix
11:17 PM CDT on Tuesday, July 22, 2008
Dallas-based media companies Belo Corp. and A.H. Belo Corporation are buying a minority stake in ResponseLogix Inc., a Silicon Valley firm that helps manage Internet leads for automobile dealerships, the Belo companies said Tuesday.
Belo and A.H. Belo, which owns The Dallas Morning News, also signed a multiyear agreement to resell ResponseLogix's customer lead management system to automotive advertisers.
The system is designed to boost auto dealers' sales by improving their ability to track online leads and follow up with customers.
"We are excited to provide our auto dealer advertisers with lead management solutions that can improve their profitability," said Ed Olkkola, A.H. Belo's senior vice president of business development.
Neither Belo nor A.H. Belo disclosed the amount of their investment.
Their participation was part of an $8 million round of financing for ResponseLogix that was led by two California venture capital firms, GRP Partners and Shasta Ventures.
Belo owns 20 television stations, including WFAA-TV (Channel 8).
A.H. Belo owns three daily newspapers in addition to The News, as well as 12 associated Web sites.
The companies also own stakes in Cars.com, a Web site for car shoppers.
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