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 Jan. 4, 2013 Source: Farm Journal Media news release Farm Journal Media announced it has acquired the majority interest in Commodity Update, the leading mobile media company serving agriculture. Farm Journal acquired a minority stake in the company two years ago. Joel Jaeger will continue to serve as CEO of Commodity Update, will continue to maintain a significant stake in the enterprise, and will also join Farm Journal's Executive Leadership Team, responsible for driving a wide range of mobile marketing solutions that benefit farmers and the companies that do business with them. "Commodity Update is by far the leader in delivering vital business information and marketing messages directly to farmer's phones," said Mitch Rouda, President of Farm Journal eMedia. "Together with Farm Journal's other No. 1 mobile-media applications, the move cements our leadership position in this critical and fastest-growing media channel." Founded by Jaeger in 2006, Commodity Update currently serves more than 75,000 subscribers, who receive up to three separate information products and more than three messages each day as part of an individually personalized subscription package. Subscriber satisfaction and subscription renewal has tracked over 90% annually during the last three years. Commodity Update and Farm Journal Media plan significant additions and enhancements to the market's leading mobile platform. "Joining forces with Farm Journal Media helps us develop even more powerful and integrated mobile marketing solutions, and expands the information set we can bring to farmers' phones," Jaeger said. "The mobile category will play a significantly bigger and more strategic role in the overall media mix in the next few years. We've been the leading mobile offering in agriculture for seven years, and we're excited to take that to the next level with an innovative organization and powerful brand like Farm Journal." "Commodity Update brings an incredibly talented team and new DNA to our company, not just market-leading mobile products," stressed Farm Journal Media CEO Andy Weber. "Joel is a visionary thinker who is already an integral part of our executive team, and he's surrounded himself with a bunch of overachievers who really add to our go-to-market strategy." Commodity Update will continue to operate out of its offices in Stillwater, MN, working in concert with Farm Journal's eMedia division based in Rosemont, IL. Tweet |
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