Media Blog

Smart Move By Cox

Cox Enterprises, which owns the big dailies in Atlanta, Austin, and Palm Beach (and a whole bunch of other newspapers) seems like a pretty smart company. This looks like an intelligent move:

Adify Corp., a 3-year-old company that knits together many Web sites into large audiences that are attractive to advertisers, is being bought by Atlanta-based Cox Enterprises Inc. for $300 million.
Adify began as a startup idea by a trio of people sitting around a cabana in Silicon Valley, but it represents “the next step in advertising,” said John Dyer, Cox Enterprises’ executive vice president of finance. Cox announced the all-cash deal today.

That $300 million is ROI for a three-year-old firm, started by three people over margaritas. 

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