CHARLESTON, S.C.—Raycom Media has announced it has acquired PureCars, a digital advertising platform for the automotive industry, for $125 million. This deal will allow Raycom to secure advertising revenue beyond its TV stations.
PureCars is used by dealers, dealer groups, local marketing associations and agencies. Digital advertising spending from dealers and manufacturers is expected to increase in 2016 from the $3.44 billion in Q2 of 2015.
PureCars will operate as a separate unit within Raycom Media, maintaining its offices in Charleston, S.C. and Milwaukee and its development campus in Atlanta. This partnership aims to unify traditional and digital advertising across TV, desktop, tablet and mobile.
“Today’s consumer jumps from screen to screen, and marketers struggle to provide relevant advertising throughout the customer journey,” said Jeremy Anspach, PureCars founder and CEO. “With Raycom’s broadcasting reach and our digital expertise, the consumer will benefit from a seamless advertising experience of content catered to their desires and interests.”