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Four major media companies band together to deliver customized advertising programs

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Chicago—Four of the nation's top media companies Friday announced the formation of quadrantONE, an online sales organization that will offer national online advertising inventory.

The companies taking part in the program are: Gannett Co., Hearst Corp., The New York Times Co. and Tribune Co.

The network has a reach of nearly 50 million unique monthly visitors, according to Nielsen Online, and covers 27 of the top 30 markets. A list of participating Web sites is available at www.quadrantONE.com.

"With the rapid expansion of online inventory, advertisers we talk with are seeking trusted alternatives," said Steven Ainsley, publisher of The Boston Globe, in a news release. The Boston Globe is owned by The New York Times Co. "Guaranteed placements within quality branded environments, coupled with the ease of a one-order, one-invoice approach to a national buy, makes for a very competitive proposition."

In addition to the four owner companies, quadrantONE is open to affiliate companies.

In other news, The New York Times said Thursday that is planning to eliminate 100 newsroom jobs through attrition, buyouts and possibly layoffs. The Tribune Co., which publishes the Chicago Tribune and Los Angeles Times, among other newspapers, will be cutting between 400 and 500 jobs, or around 2% of its total work force.

—Matthew Schwartz

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