M&A Update: Detroit’s Hour Media Buys Three More Regional Titles

Detroit-based Hour Media Group continued its nearly two-year-long regional magazine shopping spree this week, snatching up 38-year-old Gemini Publications, also based in Michigan, from longtime owner and publisher John Zwarensteyn. Included in the sale are the monthly Grand Rapids magazine, the weekly Grand Rapids Business Journal, and Michigan Blue, a lifestyle title which publishes six times per year. The deal—the terms of which were not disclosed—is the latest in a string of acquisitions for Hour Media Group, following last year's purchases of Atlanta, Cincinnati, Los Angeles, Naples Illustrated, Orange Coast, Palm Beach Illustrated, and Pasadena magazines in three separate transactions. Altogether, Hour Media now publishes more than 132 magazines and custom titles and produces 65 live events around the country, including through its corporate subsidiaries in Alabama, California, Florida, Georgia, Minnesota, New York, and Ohio. "These brands have established a strong presence and earned respect in the West Michigan market, and as with all our regional products around the country, our goal is to first serve our local markets," said Hour Media president John Balardo in a prepared statement. Although prior acquisitions by Hour Media have been met with layoffs and staff turnover—most notably last March's purchase of Atlanta, Cincinnati, Orange Coast, and Los Angeles from Emmis Communications—the company maintains that Gemini Publications staffers will remain based at their... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2018-09-06 00:00:00 UTC ]

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M&A Update: Detroit’s Hour Media Buys Three More Regional Titles

Detroit-based Hour Media Group continued its nearly two-year-long regional magazine shopping spree this week, snatching up 38-year-old Gemini Publications, also based in Michigan, from longtime owner and publisher John Zwarensteyn. Included in the sale are the monthly Grand Rapids magazine, the... Continue reading at Folio Magazine

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