Just days after consolidating Adify and Cox Cross Media into the integrated advertising network Cox Digital Solutions, the company is making waves again. This time, it’s acquiring in order to expand scale by scooping up IB Local Network from Internet Broadcasting Systems, which serves more than 2,200 Web sites.
Internet Broadcasting already directs many of its clients to Cox’s digital network, which includes newspapers, AutoTrader.com and Kudzu. COO Jeff Kimball told BIA/Kelsey that divesting the ad network was a logical way to offload an adjacent business and focus exclusively on the company’s core: building audience and revenue solutions for media companies. Plus, he acknowledged, “we realized that we couldn’t get the scale to compete in that crowded business.”
IBS will continue to push its three-pronged “think digitally” solution with media clients (local TV, radio, newspaper, magazine, cable): scalable technology, content engagement and monetization. This includes content management and publishing systems, original journalistic content and an array of advertising tools to empower local sales forces.
Cox Enterprises originally purchased Adify in 2008 for $300 million. The white-label technology platform enables publishers to build vertical ad networks, which Cox did by creating AutoTrader Access for in-market car buyers.