• by Erik Sass  @eriksass1, July 2, 2008

Triton Media Group is continuing its buying spree with its acquisition of Radio Companion, a company that creates Web applications and online tools for radio stations. The deal further augments Triton's online radio capabilities, which the company has expanded substantially in the last year through a series of purchases.

According to Radio One, it has helped developed over 1,000 Web sites for local radio stations, which currently generate over $25 million a year in revenue. Its areas of expertise include technical aspects, such as engineering, hardware and software, as well as strategic concerns, like tracking Web traffic, promotions and controlling expenses.

Last week, Triton acquired Jones Media Group--including Jones Radio Networks, which syndicates content to over 5,000 radio stations--and Jones Media America, an ad sales rep firm. JonesTM, another division of Jones Media Group, will become a new stand-alone division at Triton; JonesTM syndicates music libraries and ad content for use by radio stations.

The acquisition of Radio Companion complements Triton's digital capabilities, which are focused on developing Web strategies for radio broadcasters. In November 2007, Triton Media Group picked up Excelsior Radio Networks and its two subsidiaries, Dial Global and MJI Interactive, which provides partner stations with Web content and software tools, helping them execute online strategies that are seen as crucial to future ad revenue growth.

In April, Emmis Communications announced that it is launching a new company, Emmis Interactive, to help radio broadcasters and other publishers create and expand their Web operations. Previously, Emmis Interactive was an internal division responsible for developing Emmis' online business, including creating and revamping Web sites for its various radio stations.