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:
Buddy Solomon joins Cox Auto Trader as vice president and chief financial officer. He moves to this position from Cox Newspapers, where he served most recently as vice president and chief financial officer. In his new role, he directs and oversees all financial activities, including preparation of financial reports and summaries and forecasts for future business growth for Cox Auto Trader.
Deborah Thomas has been named vice president of human resources for Cox Auto Trader after serving for three years as vice president of human resources for Cox Broadcasting, which includes Cox Television and Cox Radio. At Cox Auto Trader, Thomas directs and oversees the human resources function by providing strategic leadership in the areas of employment, employee relations, legal compliance, recruiting and retention, organizational development and performance management.
Dick Huguley joins Cox Auto Trader as vice president of operations. He most recently served as vice president of development for Cox Enterprises. In his new role, he works with senior management to help coordinate, initiate, and communicate operational activities for Cox Auto Trader with emphasis on the Auto Trader Publishing and Auto Mart businesses.
