Move Inc. Sells Welcome Wagon

Move, Inc. has sold the assets and certain liabilities of Welcome Wagon to South Florida Media Group. The company announced its intention to sell Welcome Wagon last August, in order to better focus on its core online real estate business.

Welcome Wagon is a state-of-the-art new homeowner marketing company operating in print and online, with roots dating back to 1928. It was acquired by Move Inc. in 2001, and still adheres to the same mission statement with which it began, to: “Welcome families to their new homes by providing them with the names and numbers of many local businesses and services that we believe will benefit them as they settle into their new homes”.

The purchaser, South Florida Media Group, is a “hyperlocal community advertising company” based in Florida which owns websites, magazines and community newspapers.

In a press release issued by Move Inc., Craig Swill, CEO of South Florida Media Group said: “We are very happy to have acquired Welcome Wagon and look forward to continuing the 80-year legacy of welcoming new homeowners to their community”.

Steve Goodman, President of South Florida Media Group, added: “With SFMG’s successful formula in capitalizing on local market advertising and Welcome Wagon’s position of national dominance, we will further strengthen and poise the company for explosive growth.”

Terms of the sale have not been disclosed. In repsonse to the announcement Move Inc’s share price went down 5.37 percent, closing trading at $1.94.

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