"Our subscribers are too important to us to ever sell their information to someone else. We never have and never will sell users information like that. Our only source of income is subscriptions and occasional advertisements in the free emails. Ruining our reputation to make a few extra bucks would be an extremely stupid decision on our end."
Is at complete odds with:
"With that said, we do run promotions with partners where we give away awesome vacation packages (Mexico and Tokyo recently). If anyone signs up for one of these promotions they are agreeing to the terms and conditions, which clearly state that by signing up for the giveaway the email address will be distributed to all of the partners involved in the giveaway (typically 4-5 other companies)."
You literally sell their information to advertisers (oh no, sorry, your "partners") to make a buck. Acknowledge it, don't preface it with PR bull. What do you see as the difference between the first and the second paragraph? The fact that you only do it with people entering your promotions? Because that's still your users information.
Yes it's in your TOS, you are still selling personal information to third parties and their unknown partners.