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Source Interlink Companies Settles Lawsuit with Wholesaler The News Group, L.P.

Posted on: Wednesday, 4 March 2009, 17:51 CST

BONITA SPRINGS, Fla., March 4 /PRNewswire-FirstCall/ --- Source Interlink Companies (Nasdaq: SORC) today announced settlement of the claims previously filed against The News Group, L.P. Source had earlier announced the settlement of related actions against Time Inc., Time/Warner Retail Sales & Marketing Inc., American Media Inc. and Distribution Services, Inc.

The News Group has also agreed with Source Interlink Media, the Company's special interest publishing and media division, to continue distribution of those titles throughout their markets.

"We are pleased that SIM's popular special interest titles will continue to be carried by this leading North American wholesale distributor, and will be fully available to consumers throughout the U.S. and Canada. I know that shoppers everywhere will be happy to find Motor Trend, Automobile, Power & Motoryacht, Hot Rod, and Snowboarder magazines and the more than 75 other popular special interest titles that SIM publishes in their stores," said Greg Mays, Chairman and CEO of Source.

Regarding the settlement with the wholesaler, Mays commented, "We have always had the greatest respect for The News Group and are delighted that we are resuming normal working relationships with them, effective immediately."

Retail Business for Source Interlink Distribution

Continues to Grow

Source Interlink Companies separately reported that its magazine distribution unit, Source Interlink Distribution, continues to acquire new business and increase its retail store counts.

March 3, 2009: Added 160 new supermarkets and 15 new military base stores. February 28, 2009: Added 400 additional supermarkets, drug stores and military retail outlets. February 17, 2009: Added 662 new Wal-Mart, Kroger / Fry's and Basha's stores.

In addition to SID, which is one of the largest mainstream magazine wholesalers in the U.S., Source also operates the largest distributor of CDs and DVDs, the largest publisher of enthusiast magazines, the largest distributor of magazines to bookstores and other specialty retailers, and the largest importer of foreign magazine titles to U.S. newsstands.

SOURCE Source Interlink Companies

Source: PR Newswire

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