Citysearch Unveils Local Ad Network

West Hollywood-based Citysearch, the online business guide owned by IAC, said late Friday that it has created a new advertising network called CityGrid. According to Citysearch, the new content and advertising network aggregates advertisers from a number of partners, enhances that content, and distributes that through partner web sites. CitySearch said it has quietly been working on the network for the last 24 months, with partners such as Bing and MerchantCircle, and that the ad network had more than 500,000 paying advertisers, 15M business listings, and reach of more than 100M unique users across 100 web and mobile sites in December.