LA Times Media Group and real estate

The Los Angeles Times Media Group is hoping that tapping into the real estate business will add more revenue beyond newspaper advertising, according to reports in the Los Angeles Times.
Today the group, along with a several other partners, launched ZetaBid, a business that will auction foreclosed homes and other properties. The company would also run a website where the properties could be viewed.

The venture is the latest effort by the struggling media company to tap additional revenue streams beyond newspaper advertising. The media group also operates revenue-sharing ventures through its Cars.com and Apartments.com classified-advertising enterprises.
"These businesses are transforming and [ZetaBid is] another way to participate in advertising revenue with a slightly different model," said Bob Bellack, who is president of digital media, classified and development for Times Media Group and will be chairman of the new enterprise.

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