Tuesday, May 19, 2009

MailSouth Acquires Saving Source Direct (SSD)

Cox Enterprises to Sell Saving Source Direct to MailSouth (Press Release)

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 valueoriented 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.

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