NEW YORK, June 3 /PRNewswire-FirstCall/ -- IAC (Nasdaq: IACI) today announced CityGrid Media, a new online media company that connects web and mobile publishers with local advertising organizations by linking them through CityGrid®, its local advertising network.  CityGrid Media also owns and operates three of the largest partners on its network which include Citysearch, Insider Pages and Urbanspoon.  CityGrid Media will be led by Jay Herratti, formerly the CEO of Citysearch, LLC.

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"The local space is ripe with opportunity, but local has been difficult to master and it's hard to reach scale through one single web entity," said Jay Herratti, CEO of CityGrid Media. "CityGrid Media enables us to capitalize on our owned and operated brands, along with other leading local properties, making it profitable for publishers and local advertisers to connect with consumers across the web. By establishing CityGrid Media, we are completing Citysearch's transition from a standalone Web property to the largest local network on the Web." 

CityGrid Media properties include:

CityGrid®- the largest content and advertising network for local. CityGrid® aggregates more than 700K paying advertisers from many search sites including DexKnows.com and others, and reaches over 140M unique users across more than 150 web and mobile partners including Ask.com and more.

CityGrid Media Owned and Operated Properties - CityGrid Media will also continue to enhance its consumer experiences across its web and mobile properties including Citysearch, Insider Pages and Urbanspoon.  All owned and operated properties will be premier partners on CityGrid®.

CityGrid Media Sales - With a suite of local advertising products aimed at providing performance-based customizable content ads, leading SEO and SEM services and more, CityGrid Media products are sold directly through one consolidated CityGrid Media sales force, or available via white label for CityGrid® partners.

Investments to Support Local Product Innovations – To support the CityGrid Media strategy, the company will continue to explore strategic investments in innovative companies which can advance and accelerate the CityGrid® strategy, such as advertising platforms, mobile platforms, and publishers.  Previous investments made by the company include CityGrid® partners, OrangeSoda and MerchantCircle.

"Thanks to the innovation taking place across the local online space, opportunities are endless for local advertisers and publishers. With the establishment of CityGrid Media, we are well positioned to lead the charge in local advertising," continued Herratti. "We're excited to build out the network through more strategic partnerships, acquisitions, product developments and will support innovation wherever it emerges across the web and mobile."

To learn more about CityGrid Media, visit www.citygridmedia.com

About IAC

IAC operates more than 50 leading and diversified Internet businesses across 30 countries ... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at www.iac.com.

About CityGrid Media

CityGrid Media is an online media company that connects web and mobile publishers with local advertising organizations by linking them through CityGrid®, its local content and advertising network. CityGrid Media owns and operates leading local consumer properties including Citysearch, Insider Pages and Urbanspoon. CityGrid Media is an operating business of IAC (NASDAQ: IACI). For more information, visit www.citygridmedia.com

SOURCE IAC; CityGrid Media