"Three of the nation's biggest newspaper publishers, the Gannett Company, Knight-Ridder Inc. and the Tribune Company, are joining forces to buy three-fourths of Topix.net, a Web site that monitors more than 10,000 online news sources.
Each publisher will own 25 percent of the company. Topix.net, based in Palo Alto, Calif., will retain the rest and continue to run the site. The cost of the acquisition, which is scheduled to be announced today, was not disclosed.
Topix.net is a news aggregator, continuously monitoring updates on thousands of news media Web sites as well as government sites and organizing links to articles in more than 300,000 subject areas. Topix.net already keeps track of news from sites operated by Gannett, Knight-Ridder and Tribune, but the acquisition will allow it to approach the newspapers' online advertisers about using its technology for customizing ads. It will also let Topix.net add material like television listings."
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