Jack Cola Purchases Liberty Metro for $1.8M

Released on: November 06, 2013, 9:37 am
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Industry: Media

-- /EPR NETWORK/ -- Liberty Metro is now under new ownership. Jack Cola bought the New York-based news site, enlisting Regina Edmond as CEO and Matthew Shaffer as Editor-in-Chief.

Jack Cola, CEO of Centel Media, has purchased Liberty Metro, a subsidiary of News Corp, for an estimated sum of $1.8 million, the largest purchase of a domain name in history. The details are still being finalized, but the website is slated to return early next year. Regina Edmond has been named CEO of Liberty Metro and will have a starting salary of 480K per year, while Matthew Shaffer, Editor-in-Chief, will be paid 300K. These salaries were not originally part of the deal, but were spearheaded by Cola in the late stages of the buyout.

Cola is a three-time Fortune rated CEO, known for buying small companies and expanding their operations. His achievements as CEO include changing a tri-state business into a multi-national corporation with offices across the world, quintupling the annual profits of a capital investment company, and increasing profit margins by 193 percent for Lucentra, an international consulting firm. "I plan to not only restore Liberty Metro to its former glory," said Cola in a statement. "But I have a vision where all New Yorkers can utilize our site for as many conveniences as they can possibly hope for."

Liberty Metro was founded in 2001. It was designed as a one-stop shop, where all New Yorkers could find up-to-the-minute news from not only across the city, but around the world as well. Many of Liberty Metro's previous users will remember its connection to AOL and ease of accessibility. Cola wants to expand that accessibility by rebuilding the site as a mobile platform for any busy New Yorker on the go.

Born in the Bronx, Cola knows New York as well as anyone, having a firm grasp of the issues facing New Yorkers day in and day out. He aims to refurbish features on the site so its resources will benefit New Yorkers more than ever before. New features include an event calendar for users to see available business and social events, banking capabilities with the option to pay for all kinds of services through the website, ways to check stocks and bonds, and information on which side of the street to park in New York on any given day. One of the bigger plans in store is to create a “Community Action Center,” where New Yorkers can upload videos they take directly to Liberty Metro's Youtube page for news in the making. This would give all New Yorkers unprecedented personal access to event coverage from around the city without having to rely solely on the mainstream media.

To get an idea of how Cola plans to run the company, one can look at his recent tenure at Centel Media. After becoming CEO, Cola rebranded the company to be an online reputation management firm. With the acquisition of QuestContinental.com, a reputable website design site, the company, under Cola's leadership, became the top-rated online reputation management and SEO company that it is today. The list of Centel Media's most notable clients includes media giant Comcast, and Walmart, the largest retailer in the world.

Joining Cola in this new venture is Matthew Shaffer. At Centel Media, he quickly rose through the ranks, starting out as a member of the creative writing staff until his promotion to Editor-in-Chief. Cola was impressed with Shaffer's work at Centel Media and offered him the chance to become a partner in the endeavor.

"It's an amazing opportunity," said Shaffer in an interview. "I hope to put my past experience as Centel Media's Editor-in-Chief to use and bring Liberty Metro into a new era...I'm more than excited."

Both are committed to retaining Liberty Metro's reputation as the top resource for news in the New York area. Whenever news happens, Liberty Metro will be there with the latest bulletins to keep New Yorkers informed not only of events in New York, but around the world.

About Centel Media:

Centel Media is widely known as the leading online reputation management company. Originally established in 1980 as a public relations firm, Centel Media now provides tools and strategies for those aspiring to gain control of their online reputation. Recently, with new management, the company expanded their entire approach and mission, now offering a vast list of online reputation monitoring and defense services to individuals and brands alike.

Jonathan Wong,
Creative Writer,
Centel Media

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