06/27/2005 - CurtCo Publishing Acquires Assets of San Diego Magazine Publishing Co.
Prominent Upscale Regional Title Is Latest Addition to CurtCo’s Expanding Family of Publications Targeted to Ultra-Affluent Readers
MALIBU, CA - CurtCo Publishing, affiliate of Robb Report, and parent of ShowBoats International and Worth magazines and a family of titles exclusively targeted to the world's most affluent readers, in conjunction with financial sponsors Weston Presidio and TD Capital Communications Partners, today announced the execution of a definitive agreement to acquire the assets of San Diego Magazine Publishing Co., owner of San Diego Magazine, and publisher of a series of custom publishing titles.
Recognized for almost 60 years as one of the publishing industry's most influential city/regional consumer titles, San Diego Magazine has an audited circulation of approximately 53,000 readers and has a significant reader-base in some of the country's most affluent communities, including Rancho Santa Fe, La Jolla, and Del Mar. The publication is recognized as the regional authority on topics such as lifestyle, art, real estate, politics and fashion, and provides irreverent editorial content and eagerly anticipated special theme issues, such as The Best of San Diego, San Diego's Top Doctors, and the San Diego Home Design Quarterly.
In addition to San Diego Magazine, the acquisition includes San Diego Magazine Publishing Co.'s Custom Publishing Division, which produces bimonthlies San Diego Lawyer and Garden Compass, as well as publications developed in partnership with local organizations, including The San Diego Convention and Visitors Bureau, San Diego North Convention and Visitors Bureau and the San Diego Regional Chamber of Commerce. "For almost six decades, San Diego Magazine has held a prestigious position as one of the country's preeminent regional titles," said CurtCo Publishing Chief Executive Officer William J. Curtis. "It's an exceptional publication, with compelling editorial content, exciting photography and inspiring design."
The transaction is the second significant move by CurtCo to extend its reach into affluent regional markets. In October 2004, the company acquired the assets of Gulfshore Media, publisher of Gulfshore Life and Sarasota regional luxury lifestyle magazines serving the Naples and Sarasota markets, as well as a number of other regional magazines geared to affluent readers along Florida's gulf coast.
San Diego Magazine Publishing Co. President and CEO James L. Fitzpatrick and his staff of more than 30 employees will join CurtCo Publishing and continue in their current positions. The newly acquired titles will continue to operate at their existing headquarters in San Diego .
"From the beginning, CurtCo has understood the value of our unique relationship with the San Diego community," said Mr. Fitzpatrick. "With Robb Report, ShowBoats International and Worth and its other ultra affluent magazines, as well as more than two decades of publishing expertise, CurtCo brings to bear substantial resources for the continued growth of San Diego Magazine. Our entire team eagerly anticipates the tremendous opportunities CurtCo brings to every aspect of our organization and the San Diego community."
"Under Jim's direction, San Diego Magazine has established a well-earned position as a 'must read' for residents and visitors of some of the world's most affluent communities," said CurtCo Publishing Chief Operating Officer Dan Galpern. "Jim has built a remarkable organization and we are honored to welcome Jim and his staff of talented and dedicated individuals to the CurtCo team."
"With the addition of the San Diego division, we now reach more than 900,000 unique ultra affluent individuals through our family of magazines," said Mr. Galpern. "We look forward to building the San Diego division and continuing to extend our relationship and reach with this unique and powerful demographic with additional international, national and regional magazines."
CurtCo Publishing
CurtCo Publishing is operated by CurtCo Media Labs, which for two decades has operated more than 45 launched or acquired vertical magazines. Today, CurtCo serves the ultra luxury markets with a powerful network of leading lifestyle publications. These include the world's most acclaimed journal of connoisseurship, Robb Report, as well as Worth, ShowBoats International, The Robb Report Collection, Robb Report Home Entertainment, Robb Report MotorCycling, Robb Report Luxury Home, Robb Report Vacation Homes, Robb Report Russia, CurtCo's Digital TV & Sound, Gulfshore Life, Sarasota Magazine and a family of regional titles serving some of Florida's most exclusive markets. For more information on CurtCo Media Labs, go to www.curtco.com.
Weston Presidio
Weston Presidio, founded in 1991, is a private equity firm with over $2.3 billion under management. With offices in San Francisco, Boston and Menlo Park, Weston Presidio has worked side by side with world-class management teams throughout North America and Europe. Weston Presidio has a multi-industry investment strategy that has allowed the firm to partner with over 200 portfolio companies in a variety of industries including consumer products and retail, media, manufacturing, service and technology. For more information on Weston Presidio go to www.westonpresidio.com
TD Capital Communications Partners
Established more than 35 years ago, TD Capital is the private equity arm of TD Bank Financial Group. For more information on TD Capital and its investment groups, go to www.tdcapital.com.
MEDIA CONTACT:
Jeff Perlman
Brandware Public Relations
office - 818.706.1915
cell - 818.317.3070
jperlman@brandwaregroup.com
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