It's a dog-eat-dog world. And the Animal Planet knows it. Looking to tap into the growing
market for the pet-services industry, the cable television channel said it acquired Petfinder.com, a Web site that facilitates pet adoptions, and
PetsIncredible,
a company that specializes in pet training videos. According to the L.A. Times, Animal Planet spent a total of $35 million on the two deals. The
Silver Springs, Md.-based company
expects to add more content to Petsfinder.com with forums as well as extra animal content and features from its cable television channel.
Based on industry growth, prospects for this deal looks good. The American Pet Products Manufacturers Association Inc. estimates Americans spent $35.9 billion on their pets in 2005, including $14.5 billion on food, $8.8 billion on supplies and medicine and $8.6 billion on veterinary care. That compares with a total of $28 billion in 2001 and $21 billion in 1996, according to the trade group's statistics. — Gerald Magpily
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