NEW YORK (AP) — The Associated Press says it has sold iCircular, a service it developed to help newspapers and retailers place more advertising on mobile phones. The buyer, Wanderful Media, is a digital advertising company based in Los Gatos, Calif.
The companies did not give financial terms of the deal, which closed on Oct. 30.
ICircular is the mobile-phone equivalent of the stacks of coupons and other promotions that are inserted into print editions of weekend newspapers. The AP, a not-for-profit news cooperative owned by newspapers, launched iCircular in September 2011 to test the service with a limited number of newspapers and retailers.