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  1. Business

Cox Target Media announces purchase of major coupon site Savings.com

Cox Target Media announced today that it has acquired yet another major coupon company, Savings.com.

Savings.com will join Cox's Valpak, which mails out millions of the familiar blue envelopes full of localized coupons and deals every month. The two brands — which will continue to operate separately — will be able to share their deals across platforms.

Valpak envelopes will still contain the hyper-local offers it is known for, but now the coupon packs will also include deals from national retailers.

"The content in the Valpak envelope will get a lot better with the addition of national retailers," said Cox Target Media president Michael Vivio. "The Target, the Walgreens, the Best Buys and that kind of stuff."

Vivio said the company paid $100 million up front for Savings.com, as well as London-based Savoo.co.uk., and expects to pay more as the site continues to grow.

Savings.com launched in 2007 and has more than 5 million visitors monthly, making it one of the largest savings sites.

This purchase will provide advertisers with the national reach of Valpak and the lower upfront costs of the pay-for-performance advertising on Savings.com, Vivio said.

"We're creating an advertising alternative that does not exist right now," he said.

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