SORC Source Interlink Companies (MM)

Source Interlink Companies (NASDAQ:SORC) today announced the settlement of its antitrust lawsuit against Time Inc. and Time/Warner Retail Sales & Marketing Inc. Using the strength of their long-standing association, the parties reached a multi-year agreement securing Source�s access to Time Inc. magazine products.

�I am happy to make this announcement because it means the continuation of what has been a mutually beneficial relationship. We have enjoyed working with our partners at Time and plan to keep working with them for many years to come,� declared Greg Mays, Chairman and CEO of Source. �This agreement is effective immediately and assures that we can continue to supply all our mainstream, specialty and international customers with the popular Time titles.�

�As we move ahead, the prospect of growth is clear. It is fully our intention to create a bond with our publishers and national distributors that is as strong as the relationship we have with our retail partners,� Mays added.

New Retail Business for Source Interlink Distribution

In a separate story, Source Interlink Companies today reported that its magazine distribution unit, Source Interlink Distribution (SID), has been awarded important new business from Wal-Mart Stores, Kroger / Fry�s Companies and Basha�s Supermarkets. This additional business increases SID�s store count by 662 stores in 9 states.

�We are extremely pleased to announce this expression of confidence from our retailer partners,� said Greg Mays, Chairman and CEO of Source. �The action of these leading retailers is particularly gratifying in light of the recent market disruptions. As the flow of product to our distribution network resumes, nearly all of our major retailers have reaffirmed their selection of SID as their exclusive supplier of magazine products. We feel this customer loyalty reflects their recognition of the great service we have provided them over the years. Our goals and those of our retail partners and publisher clients remain aligned. Finally, I want to acknowledge our employees for both their core commitment and their energy in building new business.�

In addition to SID, which is one of the largest mainstream magazine wholesalers in the US, Source also operates the largest distributor of CDs and DVDs, the largest publisher of enthusiast magazines, the largest distributor of magazines to bookstores and other specialty retailers, and the largest importer of foreign magazine titles to US newsstands.

ABOUT SOURCE INTERLINK COMPANIES, INC.

Source Interlink Companies, Inc. (NASDAQ: SORC), a media and marketing services company, is a leading U.S. distributor of home entertainment products and services and one of the largest publishers of magazines and online content for enthusiast audiences. Source Interlink Media, LLC publishes more than 75 magazines and 90 related Web sites. Source Interlink Distribution (SID) services tens of thousands of retail store locations throughout North America distributing DVDs, music CDs, magazines, video games, books, and related items. In addition to distributing more than 6,000 distinct magazine titles annually, the Company maintains the largest in-stock catalog of CDs and DVDs in the US -- a combined total of more than 260,000 titles. Supply chain relationships include consumer goods advertisers, subscribers, movie studios, record labels, magazine, book, and newspaper publishers, confectionary companies and manufacturers of general merchandise.

Source Interlink (NASDAQ:SORC)
Gráfico Histórico do Ativo
De Out 2024 até Nov 2024

Source Interlink (NASDAQ:SORC)
Gráfico Histórico do Ativo
De Nov 2023 até Nov 2024