Local online classified site LiveDeal.com announced the launch of AdShare, a program that enabled media companies to launch branded online classified websites.

LiveDeal.com says publishers can now participate in the $17 billion classified industry that is moving online. According to a recent study by McKinsey & Co., newspapers could lose $4 billion in classifieds revenue to internet listings by 2007 .

"LiveDeal's AdShare program levels the battlefield by providing a robust and cost-effective solution for managing online classifieds, that newspapers and broadcast outlets can implement immediately, with no start up costs or monthly hosting fees. AdShare combines the strength of the LiveDeal platform with the brand awareness and reach of local media companies, creating a simple, win-win solution for all involved parties," says Rajesh Navar, founder and CEO, LiveDeal.com.