NEWS
Cox Enterprises to Sell Saving Source Direct to MailSouth
ATLANTA (May 19, 2009) – Cox Enterprises, Inc. announced today it has reached a definitive
agreement to sell Tarboro, N.C.-based Saving Source Direct to MailSouth, headquartered in
Helena, Ala. The transaction is expected to close May 26, 2009.
“Cox Enterprises greatly values the contributions that the employees of Saving Source Direct
have made to our company,” said Doug Franklin, executive vice president, Cox Newspapers. “More than ever, consumers rely on value-oriented content. MailSouth has twenty years of
success and distributes direct mail packages to 17 million households in 26 states.”
Saving Source Direct, formerly known as PAGAS Mailing Services, is the local source for value oriented
content and coupons in more than 100 markets throughout North Carolina. Top
markets include Greensboro, Winston-Salem, Wilmington, Asheville, Greenville, Goldsboro,
Rocky Mount and Elizabeth City. Each month Saving Source Direct reaches more than three
million homes. The company also provides solo mailing services for targeted demographics and
customer lists. Prior to the expected sale, Saving Source Direct was managed as part of Cox
North Carolina Newspapers, a publishing unit of Cox Media Group, Inc.
Said MailSouth’s CEO Albert Braunfisch, “We’ve enjoyed a long partnership with Saving Source
Direct, and for several years, we’ve worked together to the benefit of many shared clients. The
addition of the terrific markets they have built throughout North Carolina will push our
advertising program over 20 million rural and suburban households, so we’re excited about this
opportunity.”
As announced in 2008, Cox Enterprises’ newspapers in Texas, North Carolina and Colorado
continue to be marketed for sale. Citigroup has been retained to assist Cox Enterprises with the
marketing of these assets.
About Cox Enterprises: (www.coxenterprises.com)
Cox Enterprises, Inc. is a leading communications, media and automotive services company.
With revenues exceeding $15 billion and more than 77,000 employees, the company’s major
operating subsidiaries include Cox Communications, Inc. (cable television distribution,
telephone, high-speed Internet access, commercial telecommunications, advertising solutions
and the Travel Channel); Manheim, Inc. (vehicle auctions, repair and certification services and
web-based technology products); Cox Media Group, Inc. (television stations, digital media,
newspapers, advertising sales rep firms and majority-owned, publicly-traded Cox Radio, Inc.); and AutoTrader.com (online automotive classifieds and related publications). Additionally, Cox’s
Internet operations include Kudzu.com and Adify Corporation, a unit of Cox TMI, Inc.
About MailSouth: (www.mailsouth.com)
MailSouth, Inc. is the largest independent provider of shared mail services nationwide. An
integrated marketing solutions provider of print, digital and online media, the company has
partnered with clients to deliver reliable advertising solutions since 1988.
Cox Media Contact:
Bobby Amirshahi
(678) 645-4518
bobby.amirshahi@coxinc.com
Cox Investor Contact:
Richard Jacobson
(678) 645-0111
richard.jacobson@coxinc.com
MailSouth Contact:
Albert Braunfisch
(205) 620-6200 x7551
abraun@mailsouth.com |