American Profile / Relish Group Sold - Announce New Publication
Email announcement today from Jerry Lyles, Vice-president, Publisher Relations, Publishing Group of America.
I’m writing to share some great news for our company and yours.
Today, we completed the sale of Publishing Group of America to Bain Capital and Shamrock Capital, two firms with excellent track records in stewarding corporate growth. You probably know some of their current and past holdings, which include Doubleclick (internet advertising services), Warner Music Group (music publishing), Modern Luxury (16 city-regional high-end consumer magazines), Latin Communications (previous owner of Spanish newspaper La Opinion), and NextWave Media Group (online advertising agency).
As you know, our magazines have resonated with readers as national supplements to local news. We have expanded our support products from Hometown Content to online auto mall UpstreetAuto.
Bain and Shamrock share our commitment to providing content solutions for newspapers. They see substantial growth opportunities for us all. With their backing, we will be expanding our magazine lineup and introducing new digital products to enhance readership, connectivity and support.
First among these is Spry, a monthly health magazine that debuts next September at 9-million circulation, making it one of the largest launches in history. All of our testing to date shows that this magazine is a winner. And there will be more to come. In the meantime, we will be upgrading our digital capabilities to extend the community that your readers have created in the magazines.
We’re looking forward to making 2008 an exciting year. Toward that end, if there is anything I can answer on our new ownership, please don’t hesitate to call.
December 11th, 2007 at 6:15 pm
[...] They just announced they have been sold to some investment bankers and with this infusion of moola, they will be expanding. [...]