F+W Media Reveals Winning Bidders at Bankruptcy Auction

Special interest magazine publisher F+W Media is due back in Delaware bankruptcy court Monday afternoon, where the company is expected to present the winning bidders emerging from an auction of its remaining media assets, the latest step in a process that began when the company filed for Chapter 11 protection in March, citing over $100 million in debt. Unlike the company's books division—the entirety of which went to Penguin Random House for $5.6 million at a similar auction last week—the magazine side was broken up and auctioned off in pieces, with the largest chunks going to Active Interest Media subsidiary Cruz Bay Publishing and Macanta Investments, the investment vehicle for Terence O'Toole, who is co-managing partner of Tinicum Inc., the private investment firm that acquired a majority stake in F+W in 2014. All told, the total take for F+W, should all of the bids go through, will be $7.75 million. Putting up a total of $3,525,000, Macanta secured successful bids for F+W's crafts group (its largest division, which includes the Interweave network of of 10 knitting, sewing and related needlework magazines, as well as nine quilting-related magazines), plus the artists network (Artists Magazine, Southwest Art, Watercolor Artist and Pastel Journal), beating out Cruz Bay Publishing for the latter group with a winning bid of $675,000. Not to walk away empty-handed, Cruz Bay Publishing secured successful bids for the 7x frequency Popular Woodworking (beating out Meredith... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2019-06-17 16:16:56 UTC ]

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PW Appoints Associate Publisher, Expands Sales Department

Formerly regional sales director, Joe Murray has been promoted to associate publisher at Publishers Weekly, while Julia Molino joins the company as regional sales director. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-03-07 00:00:00 UTC ]
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Wold joins Watkins as associate publisher

Chris Wold has joined Watkins Media Limited – publishers of Watkins, Nourish, Angry Robot and Repeater – in the role of associate publisher of Nourish and Special Projects. Continue reading at The Bookseller

[ The Bookseller | 2016-03-01 00:00:00 UTC ]
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More bad news: Meredith Corp. shutters upscale women's magazine

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[ Crains New York | 2016-02-26 00:00:00 UTC ]
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Naples Tapped to Head Disney Books; Gonzales to Succeed Naples at Rodale

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[ Publishers Weekly | 2016-02-11 00:00:00 UTC ]
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Guardian and Apax share £80m from Ascential flotation

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[ The Guardian | 2016-02-09 00:00:00 UTC ]
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Magazine Company Execs Talk About Taking On Tech, Disruption

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[ Advertising Age | 2016-02-03 00:00:00 UTC ]
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Bookouture expands, hires Greenwood

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Meredith CEO Considers Splitting Broadcast, Publishing Units

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Obituary: Skip Skwarek

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[ Publishers Weekly | 2016-01-28 00:00:00 UTC ]
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[ The Bookseller | 2015-10-30 00:00:00 UTC ]
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5 things to know about the Meredith-Media General deal

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[ Digiday | 2015-09-08 00:00:00 UTC ]
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Virago acquires Carrie Brownstein memoir

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