November 12, 1999
Sources: Florence to Buy Back DMI
Dave Florence, founder and chairman of Direct Media Inc., Greenwich, CT, has agreed to buy the world's largest list management and brokerage concern back from Acxiom Corp., according to sources within Direct Media who asked not to be identified. Florence previously said he was leading an effort to buy Direct Media's consumer division only. Acxiom, Conway, AR, reportedly rejected offers from executives in Direct Media's business-to-business group to buy that half of the company. Florence signed a letter of intent last week to buy back the company on behalf of all Direct Media employees, sources said. No further information about the terms was available. An Acxiom spokesman did not return calls for comment.