ATLANTA – Cox Enterprises, Inc. has completed the division of assets with Landmark Communications, Inc. of their 50/50 partnership in Trader Publishing Company, a producer of specialty title classified advertising publications.
Cox now assumes control of Trader Publishing’s automobile-related publications, which include 341 automobile and light truck titles such as Auto Trader, Auto Mart, and Truck Trader with a combined total circulation of 3.5 million per week, and their companion Web sites including AutoMart.com and AutoExtra.com which together garner 4.2 million visitors per month. Cox also assumes control of the distribution system for Trader’s paid publications.As part of the transaction, Landmark has transferred to Cox its 26-percent interest in AutoTrader.com, increasing Cox’s ownership to 87.9 percent. This title will be led by Chip Perry, president and CEO. Richard Jamin, president, and based in Norfolk, Va., will oversee Auto Trader publishing. Bill Rieth, president, and based in Detroit, will head Auto Mart.
Created in 1997 and headquartered in Atlanta, AutoTrader.com is an Internet auto classifieds marketplace and consumer information Web site, aggregating in a single location more than 3 million vehicle listings from 40,000 dealers and 250,000 private owners. AutoTrader.com attracts more than 11 million qualified buyers each month.
Cox’s ownership stake in Trader Publishing will be called Auto Trader Publishing. AutoTrader.com will become part of a new Cox division called Cox Auto Trader, headed by Cox veteran Sanford Schwartz.The following executives report to Schwartz as the corporate leadership team for Cox Auto Trader: