Cox Enterprises Sells Saving Source Direct to MailSouth
ATLANTA, March 26, 2009 - Cox Enterprises, Inc. has sold Tarboro, NC-based Saving Source Direct to MailSouth, headquartered in Helena, AL.
Dirks, Van Essen & Murray, a newspaper merger-and-acquisition firm in Santa Fe, New Mexico, acted as an advisor to Cox Enterprises.
“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.
If you have further questions contact Dirks, Van Essen & Murray at 505-820-2700.
Cox Enterprises 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.
MailSouth 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.