Newspaper Companies Make Another Big Investment in a Circular Startup
Gannett, Hearst, Belo, and others have invested another $15 million in Wanderful Media, a service that digitizes and distributes the millions of merchandizing ads that go out every weekend in local papers across the United States. The deal, which brings the startup’s total funding to over $50 million, highlights the newspaper industry’s struggle to find an answer to a depreciating revenues after technology companies have picked off many of its valuable assets…