Last week Cox Media made a couple of smart moves that signify their serious approach to online advertising. First they announced that they would merge Adify, a company they acquired a couple of years ago that sells online advertising across vertical networks, with Cox Cross Media to form a new division Cox Digital Solutions. Within days they added to this move, buying the IB Local Network business and advertising sales group of Internet Broadcasting. Internet Broadcasting is an online banner network company that has been around awhile. No doubt, they have well established relationships and know how to sell online ad campaigns.
With the acquisition, Cox Digital picks up the products, customers and employees, all invaluable assets to a broadcast company looking for a digital makeover. The new company will be headed by Steve Shaw, formerly a Sr. V.P. with Cox Cross Media. Shaw himself is a retooled Radio Rep executive who left Katz Radio in 2006.
“IB Local Network’s publisher relationships and media sales power are a natural fit with Cox Digital Solutions.” said Steve Shaw, President of Cox Digital Solutions. “This combination will enable us to meet a wider set of customer needs through a richer solution set, increase efficiencies, and significantly expand our opportunities for growth.”
Broadcasters have struggled to capture digital dollars from the ever increasing digital portion of advertising revenues. This move, like the earlier acquisition of Adify, is a smart approach to doing business with digital agencies by meeting them on their own terms.