Harte-Hanks, Inc.
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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