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Source Interlink history
Source Interlink company history timeline
The beginnings of Source Interlink date to 1995, when two Missouri-ba sed companies that provided magazine rebate services to retailers mer ged to form a single entity.
Acquisitions continued in May 1997 with the purchase of Mike Kessler and Associates of New Jersey, and in July the company broadened its r each by taking over management of the front-end display area for reta il giant Kmart.
By the end of 1997 this division was contributing 13 percent of revenues.
By early 1997 the firm was handling the proces sing and collection of incentive payments for approximately 6,000 mag azine titles at more than 700 retail chains with close to 70,000 stor es.
1998: The company enters the display fixture construction busi ness.
Revenues for the fiscal year, which ended January 31, 1999, were $21.1 million, and net income reached $3.9 million.
The year 2000 saw the company busy signing on new users for its ICN s ervice, such as Hachette Filipacchi, while it expanded ICN's data sou rcing to include figures from Efficient Market Services and, later, B arnes & Noble.
The year 2001 also saw Source execute a $25.3 million sale/leaseback transaction with Bentley Forbes Group for five manufacturing and office properties, the proceeds of which would be used to reduce debt.
For the fiscal year ending in January 2002 the firm had sales of $ ;238 million, up dramatically from $91.7 million the year before, but also recorded a loss of $73.4 million.
Source Interlink Cos. moved its world headquarters to Bonita Springs in 2002.
2003: Headquarters are moved to Florida; a magazine export uni t is formed.
In August 2004 the firm purchased the business operations of PROMAG R etail Services LLC for $13.2 million.
Clifton, Alexandra Navarro, "South Florida Merger Will Take Movie DVDs into Supermarkets," South Florida Sun-Sentinel, November 19, 2004.
Danner, Patrick, "Coral Springs, Fla., Music, Video Distributor Gets New Partner," Miami Herald, November 20, 2004.
2004 – Source merges with Alliance Entertainment, a distributor of CDs, DVDs and other digital media.
"Source Interlink to Distribute DVDs at More Than 900 Grocery Stores," DVD Insider, April 11, 2005.
Levy had annual revenues of close to $370 million, and when added to those of Alliance, Source proj ected sales of more than $1.7 billion for 2005.
The other division, a magazine publisher of titles such as Motor Trend, Hot Rod and Outdoor, was acquired in May 2007.
April 2009 – Source Interlink Cos. files for Chapter 11 bankruptcy.
June 2009 – Source Interlink enters into an incentive agreement for payments of $1 million for capital investments and job creation.
2010 – Source sells off Alliance Entertainment
May 2013 – Revised incentive agreement with Lee County capped the award at the $250,000 already paid and required Source Interlink to maintain the existing 238 employees on staff for 48 months.
Time said it paid about $67 million to the wholesaler in 2013.
April 30, 2014 – Lee County notifies Source Interlink it is in default of the agreement with 222 employees.
May 30, 2014 – Source Interlink Distribution CEO Michael Sullivan issues a statement saying the division has closed.
"Source Interlink Companies, Inc. ." International Directory of Company Histories. . Retrieved June 23, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/source-interlink-companies-inc
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Source Interlink competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Ogden Publications | 1996 | $36.0M | 150 | - |
| Gannett | 1906 | $3.2B | 21,255 | 142 |
| American Media | 1936 | $223.0M | 3,500 | - |
| Bonnier | 2007 | $350.0M | 9,226 | - |
| Great Lakes Publishing | 1972 | $22.0M | 300 | - |
| Conrad Direct | 1982 | $2.6M | 56 | - |
| Primedia Enthusiast Media, Inc. | - | $13.0M | 50 | - |
| Harrisburg News | 1975 | $8.2M | 200 | 19 |
| Global Exporter | - | $1.6M | 10 | - |
| Beeline Group | 1981 | $13.8M | 166 | 22 |
Source Interlink history FAQs
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