Source Interlink Companies, Inc. profile and media properties

Michael Sullivan is the CEO of Source Interlink Companies, Inc..

Source Interlink Companies, Inc. became a major player in consumer magazine publishing with the purchase of Primedia Enthusiast Media from Primedia, Inc. in 2007. Valued at $1.3 billion, the aquisition was completed on August 1, 2007.

In the Primedia deal, Source Interlink acquired 76 consumer magazines, 90 related web sites, over 65 events, 2 television programs, 1 radio program and about 400 branded products. The company is now one of the leading special interest magazine publishers in the United States, with well-known brands such as Motor Trend, Automobile, In-Fisherman, Power & Motoryacht, Hot Rod, Snowboarder, Stereophile and Surfer.

Source Interlink filed for Chapter 11 bankruptcy protection on April 28, 2009. The filing resulted in Ron Burkle's Yucaipa Companies being removed as a shareholder, allowing the company to get out from under nearly $1 billion of its $1.5 billion debt load in a debt-for-equity swap. When the company emerged from bankruptcy in June 2009, Citigroup became the biggest shareholder of Source Interlink, with about 80 percent of the equity in a new privately held company. Most of the debt that led to the bankruptcy filing was tied to Source's $1.2 billion acquistion of the Primedia Enthusiast Media division in 2007.

Source Interlink Companies is a leading marketing, merchandising, content and fulfillment company of entertainment products, including DVDs, music CDs, magazines and books. The company manages the distribution and fulfillment of entertainment products to major retail chains throughout North America and handles the import and export of periodicals sold in more than 100 markets worldwide. Source Interlink is also involved in the coordination of product selection and placement of impulse items sold at checkout counters, the processing and collection of rebate claims as well as management of sales data obtained at the point-of-purchase.

The company serves approximately 110,000 retail store locations throughout North America. Supply chain relationships include consumer goods advertisers, subscribers, movie studios, record labels, magazine and newspaper publishers, confectionary companies and manufacturers of general merchandise.

Before the company bankruptcy filing in 2009, Source Interlink was backed by billionaire Ron Burkle through The Yucaipa Companies, a Los Angeles-based private investment firm specializing in acquiring and operating companies in the retail, distribution, and logistics areas. A former grocery store bag boy, Burkle is a prominent Democratic party activist and fundraiser. He is a close friend of former President Bill Clinton, and investments in Yucaipa made by Clinton and his wife Senator Hillary Clinton have generated millions of dollars in income for them.

Web Site:	www.sourceinterlink.com/
Telephone:	239.949.4450
Address:	27500 Riverview Center Boulevard Bonita Springs FL 34134 USA


Linda Jones Blue Island/Chicago	Posted at 12:04pm on Tuesday, November 1, 2011
Hi,the people that work with this company seem to be the nices'ever. I seem to have also read nice comments. The only thing I have to say is, how do I become a part of the company? Are the application in an e-mail, link, or maybe you can just tell me what to do to get started. Merchandising, magazines and books distributing is what I interested in. Thank You!!


Media Owners editors Boulder Colorado USA	Posted at 10:13am on Thursday, January 20, 2011
-- January 20, 2011 -- John Bode is now executive vice president and chief financial officer at Source Interlink. He was previously senior vice president of corporate strategy and finance.


Mondo Times editors Boulder Colorado USA	Posted at 10:05am on Friday, January 7, 2011
-- January 7, 2011 -- Doug Evans is now executive vice president and group publisher in charge of the enthusiast automotive business at Source Interlink. The company has also named Ira Gabriel executive vice president of the consumer media group, Brad Gerber executive vice president of sales and chief marketing officer, and Howard Lim senior vice president of new product development.


Melissa Gonzalez Brownsville, Texas	Posted at 12:49pm on Wednesday, December 15, 2010
Hello, My name is Melissa Gonzalez and I just moved back to Texas from California. I left California working for Source Interlink Co as a part time merchandiser for 2 yrs and very experienced in all accnts. I am eager to start working as a mechandiser again as I enjoy what I do and take pride in my work. Please contact me 805-760-8364 or melly_marie_mel@yahoo.com I look for to hearing from you. Thank you. Melissa


Media Owners editors Boulder Colorado USA	Posted at 1:20pm on Friday, November 5, 2010
-- November 5, 2010 -- David G. Algire is now president of Source Interlink Distribution, putting him in charge of sales, publisher support services and category management. He was previously vice president of retail sales at Meredith Corporation.


Media Owners editors Boulder, Colorado USA	Posted at 11:11am on Saturday, October 9, 2010
Source Interlink Acquires Digital Publisher Grind Networks -- Source Interlink now claims to be the largest "action sports" media company. October 6, 2010 -- Source Interlink Media announced today the completion of the acquisition of Grind Networks, a leading provider of online action sports and entertainment content. The media company will add Grind to its growing Action Sports Group ("ASG"), home to action and adventure sports magazine brands such as Surfer, Skateboarder and Powder. According to the company, the combined entity results in the largest audience in the sector, reaching more than 10 million enthusiasts every month. "The addition of Grind Networks to our portfolio demonstrates our corporate strategic commitment to finding and investing in the right partners who have the vision to deliver targeted content, across multiple platforms, to our enthusiast consumers," said Michael L. Sullivan, Chief Executive Officer of Source Interlink Companies, Inc. The Grind digital portfolio includes GrindTV.com, Newschoolers.com, Motocross.com, Ridemonkey.com, Snowboarder.com, Skateboard.com and online entertainment properties Stupidvideos.com and The Bubble. The combination with ASG will allow Grind to improve the quality and the depth of content across its platform. "This acquisition perfectly blends ASG's prominent content creation ability with the digital expertise of the Grind team, which will no doubt result in a better experience for consumers," said Source Interlink Media President Chris Argentieri. "We believe the combined entity will provide the most compelling option to marketers targeting the extremely valuable 18 � 35 year old demographic group that drives this industry."


Media Owners editors Boulder, Colorado USA	Posted at 4:19pm on Wednesday, April 7, 2010
Source Interlink Companies, Inc. Names Michael L. Sullivan Chief Executive Officer April 5, 2010 -- Michael L. Sullivan has been named chief executive officer and director of Source Interlink Companies, Inc., effective Monday, April 12, 2010 announced Greg Mays, Chairman of Source. As CEO of Source Interlink, Sullivan will oversee all business aspects of the Company and its subsidiaries. Since April 2000, Sullivan served as president and chief executive officer of Comag Marketing Group, a national magazine distribution company jointly owned by Cond� Nast Publications and Hearst Magazines. In that role Sullivan held ultimate responsibility for the retail distribution of over 25% of the North American retail magazine market, overseeing distribution for Cond� Nast, Hearst and more than 50 other publisher clients. Source Interlink Companies, Inc., with revenues of $2 Billion, is based in Bonita Springs, Florida. The Company is the publisher of 65 enthusiast magazines. Source is also the second largest distributor in North America of magazines, books and other home entertainment products in the consumer retail market.


Dave Sharp Mays Landing, NJ	Posted at 8:59am on Saturday, October 17, 2009
I have been a subscriber of their publications since the 1970's. Now they are employing high-pressure renewal tactics that were not part of their process in the past.


Eric Kallgren Boulder, Colorado USA	Posted at 10:39pm on Wednesday, April 29, 2009
Source Interlink filed for Chapter 11 bankruptcy protection on April 28, 2009. The filing will result in Ron Burkle's Yucaipa Companies being removed as a shareholder, allowing the company to get out from under nearly $1 billion of its $1.5 billion debt load in a debt-for-equity swap. Citigroup will become the biggest shareholder of Source Interlink, with about 80 percent of the equity in a new privately held company. Most of the debt that led to the bankruptcy filing was tied to Source's $1.2 billion acquistion of the Primedia Enthusiast Media division in May 2007. Source Interlink released this statement, including some laughable corporate happy-talk: "On Tuesday, we announced that we had reached a very favorable agreement with our lenders to privatize the company and cancel nearly $1 billion of our existing debt. The agreement follows proactive management actions taken over the last six months to right-size our operations - saving more than $50 million a year in expense. This is great news for Source and our business partners. Our business plan, which has the support of our lenders, provides for business to continue as usual - you will continue to receive the same level of service you have come to expect. Processes for ordering product, payment terms, and delivery dates will remain the same, all customer programs will continue without alteration, and importantly, ALL our vendors will be paid in full in the ordinary course of business. Your stores will continue to receive the exceptional service and range of products that you have come to expect from Source Interlink. The sales and field staff you deal with remain unchanged, as will the remainder of our employees. Our management team will remain at the helm and are committed to this business plan. None of our employees will lose their jobs as a result of this reorganization."

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Ron Bashal New York, U.S.A	Posted at 9:13am on Monday, November 10, 2008
I have been watching this company for some time and am concerned about this type of consolidation and its negative impact on the publishing - digital and print - industry. I have also noted that they are dominating distribution to the point of eliminating all competition. Consolidation by these companies has not proven effective or profitable. If you have watched their stock it has fallen and continues to fall precipitously. I have also noted that they used bankruptcy and other questionable means in obtaining the companies they have consolidated, and then leaving the previous owners holding the bag. Have to question managment techniques, ethics and endgame in this type of operation.

Source Interlink Companies, Inc. profile and media properties

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