Cox Enterprises Inc. said it will sell its Tarboro, NC-based Saving Source Direct to MailSouth, headquartered in Helena, AL, in a deal expected to close May 26.
The pending sale follows Cox Newspapers 2008 announcement that it had placed all of its publishing assets in Texas, Colorado and North Carolina for sale. Citigroup has been retained to assist Cox Enterprises with the marketing of these assets.
Saving Source Direct, formerly known as PAGAS Mailing Services, is a local source for value-oriented content and coupons in more than 100 markets throughout North Carolina, according to a release.
“Cox Enterprises greatly values the contributions that the employees of Saving Source Direct have made to our company,” said Doug Franklin, EVP, Cox Newspapers in a statement. “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.”