Local Corporation Sells Rovion

Irvine-based Local Corporation, which provides online local advertising for small businesses, said Friday that it has sold off its Rovion unit to Gannett Co., Inc.. The deal was worth $3.9M in cash. Local Corp. said the deal would enhance it balance sheet and cash flow. Rovion becomes part of Gannett's PointRoll unit. Rovion was a provider of mobile advertising, and had been acquired by Local Corporation in April of 2011 for $2.3M.