Raycom Media announced Tuesday that it has acquired PureCars, the auto industry’s leading digital advertising platform. The companies expect the partnership to bridge the gap between traditional and digital advertising across television, mobile, tablet and desktop platforms.
“We are impressed by the leadership, people and technology PureCars brings to the table and are eager to provide our customers with a market-leading advertising solution that crosses the TV and digital divide,” said Paul McTear, Raycom Media president and CEO.
The privately-owned broadcaster operates 51 TV stations in 38 markets in 19 states, covering 13.2% of U.S. TV households. PureCars will function as a separate entity within Raycom and stay in its development campus in Atlanta and offices in Charleston and Milwaukee.
“Since our first meeting, Raycom Media stood out as a partner that was aligned philosophically and brought real strategic value to the table,” said Jeremy Anspach, PureCars CEO and founder. "I'm proud of the deficiencies we have been solving in the automotive business and the direct impact we have made in helping dealers connect with buyers in a more efficient way using digital advertising. With Raycom, we have more data, resources and reach to help our customers market their inventory with smarter, more efficient advertising solutions.”
“Shoppers today are not loyal to just one source of media — they bounce from TV to web to social media and often use all mediums at once,” added Sam Mylrea, PureCars COO. “It’s time for an advertising platform that understands a fluid approach is one that will win the final sale, and PureCars is excited to be part of that solution with Raycom Media.”
Fellow media company Tegna has had success with Cars.com, the online destination for automotive consumers, it recently acquired. In its third quarter earnings, Tegna shared that the acquisition of Cars.com its organic growth were the major factors in its reported 72% increase in digital segment revenue.