Source Interlink Media Acquires Automotive Community CarDomain Network, Inc.
El Segundo, CA, (September 5, 2012) - Source Interlink Media ("SIM") announced today the acquisition of CarDomain Network Inc. (“CarDomain”), a leading provider of online social sharing tools and content for automotive enthusiasts. CarDomain.com, StreetFire.net, and Autoholics.com join SIM’s industry leading media portfolio including notable automotive brands such as Motor Trend, Hot Rod, Four Wheeler, and Motorcyclist.
"The addition of CarDomain to our portfolio demonstrates our continued commitment to investing in a digital platform that complements our industry leading automotive media brands," said Michael L. Sullivan, Chief Executive Officer of Source Interlink Companies, Inc. “With this acquisition we further enhance our capabilities to provide auto enthusiasts with a full spectrum of engaging content, resources, commerce and community tools across multiple media access points while connecting our advertising clients with this targeted audience.”
Launched in 1998 by Alex Algard and Simon Han, CarDomain.com has established itself as the largest vertical automotive enthusiast community online with over 2 million registered users and nearly 1 million user-generated vehicle profiles. StreetFire.net is recognized as the largest online automotive video sharing network in the U.S., delivering over 3.5 million video streams per month. Autoholics.com aggregates blogs from professional journalists and passionate enthusiasts devoted to car culture and community.
"This acquisition extends our footprint in automotive media with websites embraced by car enthusiasts who want to share their knowledge, experience, photos and videos with others who share their passion for vehicles of all types" said Source Interlink Media President, Chris Argentieri. "Combining SIM’s deep content and marketing resources with the leading social community in this vertical segment will provide unmatched opportunities for advertisers to reach this highly engaged and desirable audience."
SIM intends to continue operating the CarDomain sites and supporting their communities while cross-promoting them from its portfolio of over 50 influential automotive brands with over 20 million unique visitors each month. SIM is an established leader in multi-platform content delivery including print, web, mobile, tablets, events, video and e-mail newsletters. Its legacy began in 1948 with the introduction of Hot Rod magazine; since then its influence has continued to expand via the aggregation of leading enthusiast media brands and continued investment in original content.
"We're incredibly excited to be adding our network of websites to the Source Interlink Media portfolio as they are clearly the established leader in automotive media," said Glenn Rogers, CEO of CarDomain Network Inc. “We have supported an outstanding community of highly engaged automotive enthusiasts over the past 14 years, and we are confident that combining our platform and user base with SIM’s leading automotive media expertise will result in an even better experience for both our customers and our combined advertising clients.”
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