Source Interlink Inks Distribution Agreement With Hudson News Distributors, LLC and Dismisses Legal Action
18 March 2009 - 11:55PM
Business Wire
Source Interlink Companies (NASDAQ:SORC) today announced that
Hudson News Distributors, LLC has agreed with Source Interlink
Media, the Company�s special interest publishing and media
division, to continue distribution of Source Interlink Media titles
throughout their markets. �We are pleased that SIM�s popular
special interest titles will continue to be carried by this leading
wholesale distributor, and will be fully available to consumers,�
said Greg Mays, Chairman and CEO of Source.
In conjunction with this settlement, Source Interlink Companies
today also moved to dismiss with prejudice the legal claims
previously filed against Hudson News Distributors, LLC. This
announcement follows Source�s earlier announcement of a settlement
of related claims against wholesaler The News Group, L.P.
Regarding the newly signed distribution agreement and dismissal
of the Company's legal claims against Hudson, Mays commented, �We
greatly respect Hudson 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 up new business and increase its retail store counts.
March 16, 2009:
Added 43 new military
exchanges.
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 US, 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 US newsstands.
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