Comcast Spotlight Acquires Vehix

Sun Feb 10, 2008 5:00pm EST
 
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Deal Brings a Multi-Platform Experience and One-Stop Shopping for
                Automotive Advertisers and Car Shoppers
NEW YORK--(Business Wire)--
Comcast Spotlight, the advertising sales division of Comcast
Cable, today announced that it has acquired Vehix, a multi-platform
network that provides car buyers with a one-stop shopping experience.
With the completion of this transaction, Comcast secured a 100%
ownership of Vehix. Prior to the acquisition, Comcast owned a minority
interest in Vehix. The remaining interest was purchased from a
shareholder group, led by the Ken Garff Automotive Group.

   Vehix was launched in 1996 as an online portal designed to
facilitate the automotive research and purchase processes for
consumers. Today, the company distributes automotive content through
multiple platforms, including the broadband and on-demand platforms of
Comcast Spotlight, allowing more than 3,000 dealers to promote nearly
800,000 vehicles in online inventory at www.vehix.com. In addition to
original video content and proprietary virtual showroom technology,
Vehix aggregates and co-develops content with best-of-breed brands
like J.D. Power, Car and Driver Magazine, and NADA Guides.

   "Acquiring Vehix demonstrates our commitment to bringing advanced
integrated marketing solutions to this important advertising
category," said John Drain, Senior Vice President,
Finance/Administration, at Comcast Spotlight. "Vehix will enable our
sales teams to partner with automotive advertisers of all sizes and
create uniquely efficient and effective on-air, online and on-demand
marketing campaigns."

   Automotive advertisers can combine the power of thirty-second
spots and advanced advertising capabilities to reach in-market car
shoppers at all stages of the purchase process with highly relevant
information and content. Shoppers can build their dream car, compare
makes and models, and browse virtual showrooms filled with video, 3-D
animation and rich media. Also available are Video Buying Guides for
various vehicle categories (such as SUVs), complete with J.D. Power
ratings. Sellers can list their vehicle, or calculate trade-in values.
Buyers can read reviews, search online inventory, and request price
quotes. Mobile phone users can continue to receive search results
while on the road, all while finding and contacting dealers for
prices.

   "Being part of Comcast Spotlight enables Vehix to grow its
distribution channels and content partnerships while enhancing the car
shopping experience," said Derek Mattsson, CEO of Vehix. "We're in a
position to provide automotive advertisers a level of content and
digital platform integration that is unrivaled by our competitors."

   About Comcast Spotlight

   Comcast Spotlight, the advertising sales division of Comcast
Cable, helps put the power of cable to use for local, regional and
national advertisers. It is focused on providing multi-platform
marketing solutions to reach audiences most effectively and
efficiently. Headquartered in New York with offices throughout the
country, Comcast Spotlight has a presence in nearly 90 markets with
approximately 30 million owned and represented subscribers. Comcast
Spotlight is a trademark of Comcast Cable. For more information, visit
www.comcastspotlight.com.

   About Vehix

   Vehix is a multi-platform digital automotive network designed to
provide consumers with a truly one-stop automotive shopping
experience. Vehix, through its unique content, inventory and
advertising network, offers superior written and video content,
objective third-party information and best-in-class research tools.
All of Vehix's car research and purchase tools are available on
multiple platforms, including the Internet, cable television,
video-on-demand, and on mobile devices. Vehix launched in 1996 as an
online automotive portal designed to facilitate the research and
purchase processes for consumers. For more information visit
www.vehix.com.

Comcast Spotlight
Dana Runnells, 917-934-1015
or
for Vehix
Traction Communications
Kirsten Hamling, 303-302-2150

Copyright Business Wire 2008

 

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