AmericanTowns Gets Idearc Backing, Sells LocalSearch.com

IYP publisher Idearc has invested in AmericanTowns, a collection of local city guides that aggregates content from various sources about local businesses, events, news and other resources. Idearc has also purchased the LocalSearch.com domain from AmericanTowns. Combined, the deal is worth $3.3 million.

Idearc will work with AmericanTowns to develop hyper-local content for its own local search offerings, and will take an equity interest and board seat at the start-up.

AmericanTowns.com will use proceeds from this transaction to continue growing its database, to develop new tools for community groups, and to add more user-generated content tools for its local sites.

About the author

Kevin Newcomb joined ClickZ in August 2004, covering search marketing and other online marketing topics. He has been reporting on web-based businesses since 2000.

Before the bubble burst, Kevin was a marketing manager for an online computer reseller, handling copywriting, e-mail marketing, search marketing and running the affiliate program.

With a combination of real-world marketing experience and years of business journalism, Kevin brings to ClickZ a unique ability to deliver news and training materials that help online marketers do their jobs better.