RCU has been sold???

[Barnacle]

I was searching on the internet today, look what I ran across!!


DENVER and NEW YORK, November 16, 2007 – MediaNews Group, Inc. (MediaNews) and Hearst Corporation (Hearst) announced today that they jointly formed Kaango Ventures, LLC, which acquired an 80% ownership of Denver-based Kaango, LLC (Kaango), for approximately $20 million. Kaango operates the newspaper industry's newest and most advanced online classified advertising marketplace. The announcement was made jointly by Joseph (Jody) Lodovic IV, president of MediaNews, and Steven Swartz, executive vice president of Hearst Newspapers. In addition, Lee Enterprises, Inc. (Lee) has agreed to acquire 10% of Kaango from Hearst and MediaNews.
The acquisition marks the beginning of an initiative to create an industry-wide consortium around community-based classifieds—one that serves the Web sites of its network constituents as well as rolls up content and ad listings into a national marketplace portal: Kaango.com—designed to compete directly with Craigslist and eBay's Kijiji.
Kaango also operates RCUniverse.com, the largest and most active online community for radio-control hobbyists. RCUniverse will serve as a model for building niche Web sites in newspaper markets around the country based on communities of interest.
Both Kaango and RCUniverse were founded and operated by Michael Kranitz and Marc Vigod. At completion of the acquisition, the two companies were combined and will operate under the Kaango name. Kranitz and Vigod, each of whom will stay on, will continue to own a combined 20% of the company. Kaango Ventures, LLC anticipates acquiring the remaining 20%, through the exercise of put or call rights, within the next five years.
Since the launch of its first newspaper market in June 2006, Kaango has grown to more than 100 newspapers. Its clients include Hearst Newspapers, MediaNews, Media General, Scripps, Freedom Communications, Journal Register, and other prominent newspaper businesses, television stations and Web sites. RCUniverse.com, has operated in its current form since 2003 and grown to more than 17.5 million page views and 1.2 million visitors monthly.
“Kaango is a clear market leader in both technology and its approach to online classifieds,” said Lodovic, whose company was the first adopter of the new Kaango platform in early 2006. “We expect Kaango to change the way newspapers market both print and online classifieds. Online community channels with integrated markets will serve as a cornerstone of our new online strategy.”
“RCUniverse.com is the most comprehensive and innovative community site we have seen on the Web,” said Lincoln Millstein, senior vice president, digital media, Hearst Newspapers. “We believe that by combining the power of community in popular areas of interest with the reach and content of our newspapers, we can significantly enrich our readers’ experience online. We became extremely excited with the fresh approach that powered Kaango and RCUniverse and knew it would be the perfect engine for our new marketplace strategy.”
“We intend to replicate the success of RCUniverse across a broad range of community interests and integrate classifieds, editorial content and user-contributed content,” said Kranitz, who will lead the new consortium enterprise. “We could not be more excited about having Hearst, MediaNews and Lee behind our businesses. These companies have shown tremendous leadership in rallying the newspaper industry around their vision of a 21st century newspaper business. And this is just the beginning. We believe the Kaango platform will breathe new life into local newspaper classifieds while creating a new national marketplace that benefits every player in the consortium.”
About Kaango, LLC
Kaango (www.kaango.com) powers the online classified ad markets for more than 100 newspapers, Web sites and television stations nationwide. Kaango enables its media partners to efficiently originate classified ads destined for display on their own Web site, other Web sites or print. Kaango also provides its partners with strategic guidance in the establishment of their online classifieds. Kaango grew out of the successful community-based marketplace on RCUniverse.com.
About RCUniverse.com
RCUniverse (www.rcuniverse.com) is home to more than 330,000 registered members and hundreds of thousands of new and returning visitors worldwide with a passing or passionate interest in radio control airplanes, helicopters, cars and boats. RCUniverse was founded in 2001 by Marc Vigod, now COO of the combined companies, and later merged with RCAirport.com, founded by current CEO, Michael Kranitz.
About MediaNews Group
MediaNews Group, Inc. (www.medianewsgroup.com) is the nation’s fourth largest newspaper company, with headquarters in Denver, CO. MediaNews Group and its affiliated companies publish 61 daily newspapers and approximately 100 non-daily publications in 13 states. In addition, MediaNews Group owns a CBS affiliate in Anchorage, Alaska and four radio stations in Texas. MediaNews Group Interactive, MediaNews Group’s new media division, maintains more than 75 Web sites for its daily newspapers.
About Hearst Corporation
Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media companies. Its major interests include ownership of 12 daily and 31 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, and Albany Times Union; as well as interests in an additional 47 daily and 38 non-daily newspapers owned by MediaNews Group which include the Denver Post and Salt Lake Tribune; nearly 200 magazines around the world, including Cosmopolitan and O, The Oprah Magazine; 29 television stations through Hearst-Argyle Television (NYSE:HTV) which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, The History Channel and ESPN; as well as business publishing, including a joint venture interest in Fitch Ratings; Internet businesses, television production, newspaper features distribution and real estate.
About Lee Enterprises, Inc.
Lee Enterprises, Incorporated (NYSE: LEE), is a premier provider of local news, information and advertising in primarily midsize markets, with 51 daily newspapers and a joint interest in five others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee’s newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee’s online sites attract more than 11 million unique visitors monthly, and Lee's weekly publications are distributed to more than 4.5 million households. Lee’s newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Billings, Mont.; Bloomington, Ill.; Tucson, Ariz.; and Napa, Calif. Lee is based in Davenport, Iowa. For more information about Lee, please visit www.lee.net.
Contacts:
Joseph (Jody) J. Lodovic IV, MediaNews Group, 303-954-1619, jlodovic@medianewsgroup.com
Paul Luthringer, Hearst Corporation, 212-649-2540, pluthringer@hearst.com
Michael S. Kranitz, Kaango, Inc., 303-858-0415, michael@kaango.com
Dan Hayes, Lee Enterprises, 563-383-2163, dan.hayes@lee.net

[jaguar bone]

Good Find - interesting read.
I recall RCU buggin the daylites out of me when they were just starting up with their e mails.
It is quite an enterprise.

RCU really promoted a company's deal I'll never forget: Some guy named FUSCO selling a 1/3 scale Long EZY that didn't exist in any form. Guy took allot of people's $$.
I'm certain RCU thought the guy / deal was legit. A hard lesson learned for all.

[Vic3D]

[exeter_acres]

vic....

that post ROCKED

[KrisW]

Like I ALWAYS said. . Kranitz and Vigod were in it simply for the MONEY. . and don't give much of a damn about the Hobby. . .but they STILL can't stop me from accessing the RCU site (even though I've been banned 4 times now). I actually have THREE nicknames over there. . . .and the other 4 are still listed as "active members".

Kinda makes you wonder what the actual membership size of RCU is.

[ShortBus]

	Quote: Originally Posted by KrisW
	Like I ALWAYS said. . Kranitz and Vigod were in it simply for the MONEY. .

Can you blame them? I would love to be in their shoes, wouldn't you?

[MadMonkey]

	Quote: Originally Posted by KrisW
	but they STILL can't stop me from accessing the RCU site (even though I've been banned 4 times now).

Heck, even I got banned once, and I'm a sweetheart

[aviti]

	Quote: Originally Posted by KrisW
	Like I ALWAYS said. . Kranitz and Vigod were in it simply for the MONEY. .

So what...Max is just in it for the chics

[sweetpea]

or maybe dudes......since that is the majority here

[Uncle Brett]

Oh Snap!!!

[SleepyC]

Max has never fronted, he has always said he's in it for all the super sweet luscious R/C model airplane chicks.

The ever prevalent herd of perfect 10 models that grace us all at every flyin and every expo.

[Dan_nO]

[gwright]

boy, if I only had a nickle from everyone who cares,..I'd have like,..2 or 3 cents

[snap a saurus]

	Quote: Originally Posted by SleepyC
	Max has never fronted, he has always said he's in it for all the super sweet luscious R/C model airplane chicks. The ever prevalent herd of perfect 10 models that grace us all at every flyin and every expo.

Looks like RCU was only a small part of the deal.
Sleepy, can you post pics of the FG models, I have no doubt they are gorgeous.

[50%plane]

Vic, Perfect post!


I used to go on RCU all the time. I'm not a good a Kris though, I've only been on restriction. My only intrest lie in the classic pattern forum and arguing with the idiots in the AMA forum....
FG is for airplanes and friends.

50%