The World: Tokyo - News outlets combine to create digital ad network

A number of domestic and foreign news agencies have combined to launch a digital advertising network in Japan in order to sell ads collectively across their online domains.

In an effort to combat the economic downturn, the organisation, called the Premium Business Ad Network, is set to launch in April. It is looking to raise about $3.3 million within the first year.

Japan's Asahi Shimbun newspaper and Jiji Press are reportedly involved in the alliance, as well as Thomson Reuters and CNN.

Takashi Takeda, the chief executive of DDB Japan, said: "Offline media is the biggest victim of this economic downturn for the media. I think this is one way for them to survive."