Atlanta - Cox Enterprises, the owner of a cable TV and broadband provider, newspapers, television and radio stations, announced on Tuesday that its Cox TMI unit will acquire Adify, a provider of vertical online advertising. While financial terms of the deal were not disclosed, PaidContent pegged the price tag at around $300 million, and reports that Adify saw revenues of $7 million last year and is expected to pull in $35 million in 2008.

Clients of Adify's self-service online ad network include Forbes.com, Martha Stewart Living Omnimedia and Guardian.

Cox said that Adify will remain headquartered San Bruno, Calif. and continue to be led by president and co-founder Russ Fradin.

Related Links:
http://www.adify.com/press_releases/Cox_release.html

http://www.coxenterprises.com