Cox Target Media Merger Creates Coupon Giant
Cox Target Media announced its acquisition of Savings.com, an online coupon website, and its British-based sister site, Savoo.co.uk today. Terms of the deal are undisclosed. Cox Target Media also owns and distributes Valpak coupons. Its print coupons from national and local retailers are mailed to more than 44 million homes a month. Savings.com gives online shoppers access to offers from national and online retailers. More than 5 million users access the site per month.
The acquisition also expands alternative revenue models, something Cox Target Media President Michael Vivio mentioned during ILM West last December. Under the traditional model, Valpak businesses pay for the ads up front and hope to receive a profit on the back end. Now, Valpak and Savings.com will offer national merchants pay-for-performance advertising that lets marketers drive sales with lower upfront costs. Savings.com also brings high-level email marketing and the ability to build loyalty databases around specific products and services to Valpak’s print-based model.
Savings.com and Savoo.co.uk will continue to operate independently but work together with Valpak to share resources, leverage technology platforms, and promote consumer engagement. Loren Bendele, founder and CEO of Savings.com, will continue in his current role.
Also worth noting today is Valassis Communications’ acquisition of Brand.net, an online display, video and mobile advertising platform. Valassis Communications is a direct mail company that is building out its digital display offering — Valassis Audience Network.