CBS-Backed TargetSpot Buys Radio Ad Rep Firm Ronning Lipset

This story was written by Rafat Ali.
TargetSpot, the CBS-funded online streaming media ad targeting firm, has acquired Ronning Lipset Radio, an online radio advertising representation firm, and claims it is the largest online radio advertising network. The price was not disclosed, reports NYT.

TargetSpot's service allows anyone to buy audio and visual ad space on its website, to be played on the 600 online radio sites in its network. Ronning Lipset has been selling ads for Internet radio companies like *Yahoo*, Live363, *AOL* and CBS.

Earlier this year TargetSpot was tapped to provide the end-to-end marketplace for advertisers for the merged *CBS* Radio-*AOL* internet radio network. NYC-based TargetSpot has raised two rounds of funding previously, from Bain Capital Ventures, Union Square Ventures, CBS (NYSE: CBS) Radio and web animation company Oddcast, among others.

By Rafat Ali