Adify: Red-headed stepsister to
news, cable ad networks

Cox Enterprises has just purchased Adify for $300 million, reports PaidContent.

The union joins a major online ad network with a high-profile representative of major news and cable ad alliances.

Last August Adify launched the Gay Ad Network, which now tops the LGBT category. Adify also helps power Six Apart Media and enjoys the attentions of major investors, including NBCU and Time Warner. Clients include the Guardian, Forbes and Martha Stewart Living Omnimedia.

Cox is part of newspaper ad alliance quadrantOne and a founding partner of cable ad network Project Canoe. Both coalitions were launched by industry giants in defense against networks launched by Google and Yahoo.

PaidContent believes Adify's suite may be integrated in Cox's cable-based ad offerings. And while Adify will continue to operate independently, major media investors are expected to cash out, though NBC is expected to stay on as a customer.

The transaction is expected to finalize in May.