Ramcom Media Acquires PureCars For $125 Million

Raycom Media has acquired PureCars for $125 million. This move means a media company that owns 51 television stations in 38 markets will integrate their broadcasting expertise with the digital advertising platform available through PureCars.

“Today’s consumer jumps from screen to screen, and marketers struggle to provide relevant advertising throughout the customer journey, PureCars founder and CEO Jeremy Anspach said in a statement. 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. With this partnership, PureCars and Raycom will provide a comprehensive advertising strategy for local car dealerships, but also a model for today’s media industry as a whole.”

According to a press release, before Raycom’s acquisition of PureCars, they heard feedback, which pointed them toward the purchase. Joe Fiveash, vice president of digital media, strategy and business development at Raycom Media spoke about PureCars in a statement explaining, “At Raycom, our automotive vertical team visits dealers in each of our markets, and we ask them who is doing new and highly effective things in the marketplace, and each one of them came back with PureCars. The people these dealers work with at PureCars are knowledgeable, informative and they have just the right level of involvement.”

PureCars will operate as a separate business unit as part of Raycom Media, keeping locations in Milwaukee, Charleston, South Carolina, and Atlanta. The newly united organizations plan to construct a “cohesive platform what unifies traditional and digital advertising across television, desktop, tablet and mobile.” Sam Mylrea, the COO of PureCars explained the Raycom integration saying, “With Raycom’s broadcast resources, we’ll extend…positive customer experience to television where car dealerships already market their goods to local consumers. Together we will deliver the ideal user experience in local markets nationwide.”

It will be interesting to see what this “cohesive platform” will look like and what impact this acquisition will have on dealer’s television and digital advertising options.