FOR IMMEDIATE RELEASE
THE BERRY COMPANY ANNOUNCES ACQUISITION OF RIGHTS TO PUBLISH PRINT AND ONLINE DIRECTORIES IN ALASKA, CINCINNATI, HAWAII MARKETS
NEW YORK (March 4, 2014)— The Berry Company, a leading provider of local leads and advertising serving small and medium sized businesses for over a century, has acquired the rights to publish print and online directories for the Alaska, Cincinnati, and Hawaii markets. Up until this transaction, The Berry Company has served these markets on an agency basis on behalf of the seller, Local Insight Media Finance LLC.
“The acquisition provides The Berry Company with a more reliable revenue stream, improved operational flexibility, and increased scale,” said Jim Continenza, Executive Chairman of the Board and Chief Executive Officer.
With the addition of these markets, The Berry Company will grow its owned customer base by 53 percent and extend geographic footprint for its owned business to the attractive Alaska, Cincinnati, and Hawaii markets. The Berry Company anticipates a seamless integration and expects to better serve its customers and more directly partner and grow with them.
This acquisition enables The Berry Company to create value through top line growth in its digital segment as well as through substantial cost savings.
“We began this process over a year ago because we believe in this business and these markets. This is a strategic investment that The Berry Company has considered a top priority. It is a highly synergistic and substantially increases our ratio of owned versus agency business,” said Continenza.
ABOUT THE BERRY COMPANY: The Berry Company, LLC, is a leading provider of local search and marketing solutions, generating leads for its advertising clients and enabling consumers to efficiently find the products and services they need. Berry serves approximately 130,000 advertising clients in 50 states. Since its founding more than a century ago, The Berry Company has offered exceptional service, local market expertise and a strong portfolio of solutions.
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