Media General announced that it has signed an agreement with NARAE Enterprises, Inc. to acquire DealTaker.com, an online social shopping portal that offers consumers an array of bargain hunting, posting and comparison opportunities. The transaction is expected to be completed in the second quarter of 2008. DealTaker.com was founded in 2004 and has more than 100,000 registered members as well as relationships with 1,500 affiliated retail businesses. The Web site provides coupons, rebates and bargains, many of them exclusive to DealTaker.com. It currently has more than 400,000 unique visitors per month.
Terms were not disclosed.