In a somewhat surprising turn of events, the Los Angeles Times is now selling real estate. As you will recall, the LA Times recently ended their last Sunday real estate section of their newspaper. Now, they are running an auction site for the sale of distressed real estate. The first homes that will go on the block are slated for September 27 and 28 and will cater to bank owned and home builder owned real estate. It appears to be a (desperate) way for the newspaper to attempt to generate some profit with the declining revenues that they are receiving. The online auction company is called Zetabid.
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[...] Karlen continues to beat me to the punch! Yesterday he reported the Los Angeles Times’ new real estate auction venture. The original hat tip goes to Forbes.com this [...]
I don’t know how much of a surprise this really is, newspapers will continually look to cash-in on their remaining readership. They have two obvious trends starring them in the face (loss of ad rev to online vehicles and the looming foreclosure market) why not take advantage while they still can?
IMO, it is all for naught as the unmoving paradigm shift from traditional media to online venues is unstoppable. People are sick and tired of the BS they get from traditional media and will inevitably look to online for the real scoops.
It is a last ditch effort in a slowly dying media market.
I’m sure their circulation has been declining for years. The RJ has removed all external links on their site and replaced them with ppc links by inform.
Is the LA Times still doing this?