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Feb. 2, 2011 Source: Farm Journal Media news release In a joint announcement today, CommodityUPDATE, LLC, and Farm Journal Media announced that Farm Journal was making a significant equity investment into the company. The agreement strengthens CommodityUPDATE's leadership position in the rapidly expanding mobile marketplace in agriculture and creates new cross-media marketing opportunities for companies striving to effectively engage with the nation's top farmers. Founder Joel Jaeger will remain CEO of CommodityUPDATE and continue to manage the Jaeger family's controlling interest in the company they formed in 2006. Two Farm Journal Media executives will join the board of directors, and the Farm Journal Media sales team will play a direct role in expanding sponsorship of the mobile service. Jaeger says the partnership will help agrimarketers more effectively reach the nation's top farmers via a diversified media portfolio that integrates mobile, the fastest growing segment of the marketing mix. "Since we launched the business, the mobile medium has evolved, and so too has the way companies communicate with farmers," he says. "Used properly, mobile provides the direct, interactive and immediate connection to the farmer that we all seek, while complementing and connecting with other media and campaign elements." Farm Journal Media CEO Andy Weber says he is committed to growing Farm Journal's reach throughout agriculture, using every media tool available. "Mobile media is a fast-growing outlet for agribusiness messaging, and we are proud to have forged this partnership with Joel and his company as the far-out-infront leader in this space." Adds Mitch Rouda, Farm Journal's president of eMedia, "As mobile and online media intersect, the partnership helps us stay in front of the trend, while significantly expanding our footprint in electronic media." About CommodityUPDATE: CommodityUPDATE is the leading provider of agricultural information to mobile phones. The company delivers critical commodity market data and other information to the end users' mobile phone or other handheld device, arming decision makers with information that is on target, in the field or anywhere. The service is delivered through a sponsored subscription model in conjunction with the finest companies and people in the world. About Farm Journal Media: Farm Journal Media is the nation's leading agricultural media company. Its magazines are the 134-year-old flagship FARM JOURNAL, TOP PRODUCER, BEEF TODAY, DAIRY TODAY and IMPLEMENT & TRACTOR. The company produces and distributes the "AgDay," "U.S. Farm Report," "Corn College TV," Leave a Legacy TV" and "Outdoors on the Farm" national TV programs and produces the industry-leading website AgWeb.com and syndicated radio show Consumer Ag Connection. Farm Journal Media also licenses detailed industry data through its FarmReachTM database, publishes the Pro Farmer and LandOwner newsletters, produces numerous large-scale live events and provides extensive custom publishing services. Tweet |
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