Source Interlink Companies Settles Lawsuit with Wholesaler The News Group, L.P.
05 Mars 2009 - 12:51AM
PR Newswire (US)
BONITA SPRINGS, Fla., March 4 /PRNewswire-FirstCall/ -- Source
Interlink Companies (NASDAQ:SORC) today announced settlement of the
claims previously filed against The News Group, L.P. Source had
earlier announced the settlement of related actions against Time
Inc., Time/Warner Retail Sales & Marketing Inc., American Media
Inc. and Distribution Services, Inc. The News Group has also agreed
with Source Interlink Media, the Company's special interest
publishing and media division, to continue distribution of those
titles throughout their markets. "We are pleased that SIM's popular
special interest titles will continue to be carried by this leading
North American wholesale distributor, and will be fully available
to consumers throughout the U.S. and Canada. I know that shoppers
everywhere will be happy to find Motor Trend, Automobile, Power
& Motoryacht, Hot Rod, and Snowboarder magazines and the more
than 75 other popular special interest titles that SIM publishes in
their stores," said Greg Mays, Chairman and CEO of Source.
Regarding the settlement with the wholesaler, Mays commented, "We
have always had the greatest respect for The News Group and are
delighted that we are resuming normal working relationships with
them, effective immediately." Retail Business for Source Interlink
Distribution Continues to Grow Source Interlink Companies
separately reported that its magazine distribution unit, Source
Interlink Distribution, continues to acquire new business and
increase its retail store counts. March 3, 2009: Added 160 new
supermarkets and 15 new military base stores. February 28, 2009:
Added 400 additional supermarkets, drug stores and military retail
outlets. February 17, 2009: Added 662 new Wal-Mart, Kroger / Fry's
and Basha's stores. In addition to SID, which is one of the largest
mainstream magazine wholesalers in the U.S., Source also operates
the largest distributor of CDs and DVDs, the largest publisher of
enthusiast magazines, the largest distributor of magazines to
bookstores and other specialty retailers, and the largest importer
of foreign magazine titles to U.S. newsstands. DATASOURCE: Source
Interlink Companies CONTACT: Jason P. Adams, Director of Financial
Reporting and Treasury, Source Interlink Companies, Inc.,
+1-239-949-4450 Web Site: http://www.sourceinterlink.com/
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