Cox Enterprises Planning To Acquire Ad Network, Adify For $300 Million
“We’re absolutely convinced at Cox that online revenue is continuing to grow,”stated John Dyer, EVP of Cox Enterprises. “If you look at Cox’s history, we’ve not necessarily been the first into a space… But we’ve prided ourselves in the course of history in being early investors.”
Cox Enterprises, the communications company that owns a large number of TV, radio, and newspaper companies is planning to acquire Adify Corporation. Adify is an advertising company that brokers ads for publishers and spreads advertisements for marketers. Cox plans on acquiring the digital advertising company for $300 million.
Adify’s clients include Martha Stewart Living Omimedia and several finance web sites created owned by Forbes Inc.
Early investors in Adify include NBC and Time Warner.Â These companies will cash out and won’t have any further influence on Adify’s operations.Â NBC will still be a customer.Â Cox also owns Autotrader.com.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry