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.
Forward-Looking Statements
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations and potential opportunities for New Media’s newspaper advertising or Propel’s products and services. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties, such as continued declines in advertising circulation, economic conditions in the markets in which we operate, competition from other media companies, the possibility of insufficient advertising interest in our digital business and technological developments in the media sector. These and other risks and uncertainties could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. The Company can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in the Company’s Annual Report on Form 10-K and filings with the Securities and Exchange Commission. Furthermore, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
