With SFMG's successful formula in capitalizing on local market advertising and Welcome Wagon's position of national dominance, we will further strengthen and poise the company for explosive growth.
New York, NY (PRWEB) June 26, 2009
DeSilva+Phillips, Mediabankers™, announces that its client Move, Inc. (NASDAQ: MOVE), the national leader in online real estate, has sold its Welcome Wagon business to South Florida Media Group, a hyper-local community advertising company based in Boca Raton, Florida.
Welcome Wagon was founded in 1928 and quickly became an American institution as the company's network of hostesses hand-delivered baskets to new homebuyers with a variety of gifts and offers from local merchants. Welcome Wagon's founder, Thomas Briggs of Memphis, Tennessee, was one of the first marketers to realize that effective one-to-one marketing established a continuing relationship between consumer and merchant, rather than merely making a sale. Welcome Wagon also became one of the nation's first major woman-operated, woman-focused companies. Welcome Wagon had several notable corporate owners over its 80-year history, including Gillette and Cendant. Move, Inc. acquired Welcome Wagon in 2001, and decided last year to sell it in order to focus on its core online real estate businesses.
Marti Frucci, the DeSilva+Phillips Managing Director who led the transaction team, said, "We are proud to have helped this distinguished marketing brand - which in some ways was the original lead generation business long before that term was coined - find an owner who can take over where Move left off in unlocking Welcome Wagon's enormous potential for further development."
"We are very happy to have acquired Welcome Wagon and look forward to continuing the 80-year legacy of welcoming new homeowners to their community," said Craig Swill, CEO of South Florida Media Group. Steve Goodman, President of South Florida Media Group, added, "With SFMG's successful formula in capitalizing on local market advertising and Welcome Wagon's position of national dominance, we will further strengthen and poise the company for explosive growth."
About Move, Inc.
Move, Inc. (NASDAQ:MOVE) is the leader in online real estate with 10.8 million monthly visitors to its online network of websites. Move, Inc. operates: Move.com®, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com®, the official Web site of the National Association of REALTORS®; Moving.com; SeniorHousingNet.com™; and Top Producer® Systems. Move, Inc. is based in Westlake Village, California.
About Welcome Wagon
Welcome Wagon is a state-of-the-art direct marketing company, located in Plainview, New York. While the method of delivery changed over the years from baskets to direct mail, the company's mission remained the same - making an early connection between local businesses and new residents. Employing world-class digital print-on-demand equipment, the company reaches millions of new movers across the country with a suite of products, led by the Welcome Wagon Gift Book. Its high-quality products, sophisticated system for obtaining new homeowner data and extensive network of local advertising salespeople across the country are a powerful combination in the pursuit of business.
About South Florida Media Group
South Florida Media Group publishes multiple community newspapers, magazines and hyper-local websites in the South Florida Market. The company's properties include the Boca Raton News, Our Town News, Atlantic Ave Magazine and In The Biz Magazine. These publications serve a cluster of suburban markets with attractive demographics and population growth between the larger cities of Fort Lauderdale to the south and Palm Beach to the north. South Florida Media Group believes that developing hyper-local media products is the future of publishing, and its mission is to be the leader. For more information, visit http://www.southfloridamediagroup.com.
About DeSilva+Phillips, Mediabankers™
DeSilva+Phillips, mediabankers™, is a New York-based investment bank which advises dealmakers in every area of the media, information and related technology markets. DeSilva+Philips provides M&A advisory and corporate restructuring services and private placements of debt and equity, and has completed more than 200 transactions since 1996. Its broker-dealer affiliate, DeSilva+Phillips Corporate Finance LLC, is a member of FINRA and SIPC. For more information, visit Mediabankers.com.
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