New Media Enters Into a Promotional Venture with Direct Eats (6/26/15)
NEW YORK--(BUSINESS WIRE)--New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM) announced today that it has entered into an exciting new affiliation with Direct Eats. Direct Eats is an online specialty, gourmet and naturals foods marketplace redefining how consumers find and purchase food. In addition to providing consumers with access to specialty foods based on their personal taste or diet, all of the products are shipped for free. New Media will provide Direct Eats with advertising across all of its local markets in exchange for a 12.5% equity stake in Direct Eats.
Michael E. Reed, President and Chief Executive Officer of New Media commented, “We are excited to be partnering with Direct Eats and see a tremendous opportunity to leverage our newspaper’s advertising reach and Propel’s products and services to help Direct Eats grow their brand. Direct Eats is part of a large and growing business segment, and we believe New Media is well positioned to connect Direct Eats with potential customers throughout the U.S.”
“We believe New Media brings great value to Direct Eats,” said David Hack, Founder and Executive Chairman of Direct Eats. “With their expansive reach across the country, reaching nearly 20 million consumers each week, combined with their aggressive growth strategy and exceptional marketing capabilities, New Media is the ideal partner to help us rapidly grow our business.”
About New Media Investment Group Inc.
New Media is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses. The Company is one of the largest publishers of locally based print and online media in the United States as measured by our 127 daily publications. As of April 30, 2015, the Company operates in over 460 markets across 32 states. New Media’s portfolio of products, as of April 30, 2015, include over 550 community publications and over 460 related websites, serve more than 200,000 business advertising accounts and reach over 19 million people on a weekly basis.
For more information regarding New Media and to be added to our email distribution list, please visit www.newmediainv.com.
About Direct Eats
Direct Eats is the online specialty, gourmet, and naturals foods marketplace redefining how consumers find and purchase food while providing local food makers the unique opportunity to connect with shoppers across the US. With Direct Eats every consumer from coast to coast is no longer bound by the local store with limited shelf space and limited product information. Consumers now have access to the best food based on their personal taste or diet at great prices and everything is always shipped for free.
For more information regarding Direct Eats, please visit http://www.directeats.com