Harte-Hanks sells The Flyer back to original founder

Harte-Hanks has entered into a definitive agreement to sell the assets of its Florida Shoppers operations, The Flyer®, to Coda Media Corp. for gross proceeds of approximately $2 million in the form of a secured promissory note, subject to working capital. Coda Media is a Tampa-based corporation owned by Dick Mandt, founder of The Flyer.

The transaction is expected to close on or before December 31, 2012 upon satisfaction of customary closing conditions. Harte-Hanks anticipates the transaction will result in a one-time after-tax loss of approximately $1.0 million. Harte-Hanks intends to use the proceeds from the transaction for general corporate purposes.

Please share this:
Posted in advertising, Business News, Current Deals | Tagged , , , , | Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>