Harte-Hanks to Buy Florida Shoppers Operations
Harte-Hanks, Inc. (NYSE: HHS), a worldwide direct and targeted marketing company, today announced that it has entered into a definitive agreement to sell the assets of its Florida Shoppers operations, The Flyer(R), to Coda Media Corp. for gross proceeds of approximately $2 million in the form of a secured promissory note, subject to working capital adjustments. 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.
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