ATLANTA – Cox Enterprises, Inc. and Landmark Communications, Inc. have agreed to a division of assets of their 50/50 partnership in Trader Publishing Company, a producer of specialty title classified advertising publications.
The agreement calls for Cox to assume control of Trader Publishing’s automobile-related publications, which include 341 automobile and light truck titles including Auto Trader, Auto Mart, and Truck Trader with a combined total circulation of 3.5 million per week. In addition, Cox will control the publication’s companion Web sites including AutoMart.com, and AutoExtra.com, which together garner 4.2 million visitors per month.
Cox also will become the owner of Trader’s offices for these publications and will be responsible for managing the distribution system for Trader’s paid publications. Landmark also will transfer to Cox its 26-percent interest in AutoTrader.com, increasing Cox’s ownership to 87.9 percent.
AutoTrader.com is an automotive classifieds marketplace and consumer information Web site, aggregating in a single location more than 2.8 million vehicle listings from 40,000 dealers and 250,000 private owners.
Landmark will assume control of Trader’s non-automotive publications and Web sites including Cycle Trader, Boat Trader, RV Trader, Trader’s real estate and employment classifieds publications including For Rent Magazine, Harmon Homes, Employment Guide, and its companion Web sites, Dealer Specialties and Trader’s automotive Web services group. Landmark will be responsible for managing the distribution system for Trader’s free publications.
A new company, equally owned by Cox and Landmark, will be formed to operate Trader’s printing plants. In addition to sharing production capabilities, Cox and Landmark will work together on distribution, with Cox helping Landmark distribute its paid publications and Landmark, helping Cox distribute its free publications.
Cox’s ownership stake in Trader Publishing will be called Auto Trader Publishing, and AutoTrader.com will become part of a new entity called Cox Auto Trader, which will be headed by Cox veteran Sanford Schwartz.
There are also significant synergies between the retail activities of Cox Auto Trader and the wholesale business of Manheim, which operates a wholesale marketplace for used cars. For car sellers, these two entities will continue to pursue the opportunities for offering more integrated marketing and advertising, inventory management, inspections, and live and electronic selling venues.
